EX-99.1 2 d301044dex991.htm EX-99.1 EX-99.1

LOGO

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical

Report

Effective Date: January 26, 2012

Qualified Persons:

Mr. Carl Michaud Eng.

Mr Eric Chen P.Geo

Mr. Jacques Simoneau P.Geo

Mr. Andy Fortin Eng.

Ms Maryse Belanger, P.Geo.


CERTIFICATE OF QUALIFIED PERSON

I, Carl Michaud, Eng., as an author of this report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012, prepared for Goldcorp Inc. (the “Issuer”) do hereby certify that:

 

1.

I am Chief Engineer, Éléonore Project, Goldcorp Inc., 853 boul. Rideau, Rouyn-Noranda, Quebec, Canada J9Y 0G3.

 

2.

This certificate applies to the technical report “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012, (the “Technical Report”).

 

3.

I graduated with a B.Sc. degree in Mine Engineering from Universite Laval, in 1996. I am a member in full standing of the Ordre des Ingenieurs du Quebec, under identification number 117090. I have worked as a Junior Mine Engineer from May 1996 to 1998. Following this experience, I obtained my professional registration, and I have worked as a Mining Engineer for a total of 12 years, with Mines Mcwatter, Ressources Campbell, Orica Canada inc. and Goldcorp Inc.

 

4.

I am familiar with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and by reason of education, experience and professional registration I fulfill the requirements of a “qualified person” as defined in NI 43-101.

 

5.

I have visited the Éléonore Gold Project on a regular basis since May, 2010.

 

6.

I am responsible for Sections 1.12, 1.13, 1.14, 1.22, 15 (all sections), 16 (all sections), 18.1.1 to 18.1.6, 18.6, 24.1, 25.6, 25.7, 25.9(part), 25.14 and 25.15 of the Technical Report.

 

7.

I am not an independent qualified person as described in section 1.5 of NI 43-101, as I am an employee of the Issuer.

 

8.

I have no prior involvement with the property .

 

9.

I have read NI 43-101 and the Technical Report has been prepared in compliance with NI 43-101.

 

10.

As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2012

 

(signed and sealed) “Carl Michaud”
Carl Michaud, Eng.
Chief Engineer, Éléonore Project
Goldcorp Inc.

 

 

Certificates


CERTIFICATE OF QUALIFIED PERSON

I, Eric Chen, P. Geo., as an author of this report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 prepared for Goldcorp Inc. (the “Issuer”) do hereby certify that:

 

1.

I am Superintendant of Long Range Planning & Modelling, Peñasquito Mine, Goldcorp Inc., at Av. Universidad 103, Col. Lomas del Patrocinio, 98060 Zacatecas, Zac, Mexico.

 

2.

This certificate applies to the technical report “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 (the “Technical Report”).

 

3.

I am a member of the Association of Professional Engineers and Geoscientists of British Columbia. I graduated with a Bachelor of Science degree in geology from Peking University in 1991. I have practiced my profession continuously since 1991 and have been involved in mineral exploration for copper, gold, silver and in open pit and underground geology, ore control, resource modeling for gold, copper, silver, lead, zinc, and iron ore in Canada, United States, Mexico, Turkey, China, and Brazil. I have worked as a geologist for a total of 20 years.

 

4.

I am familiar with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and by reason of education, experience and professional registration I fulfill the requirements of a “qualified person” as defined in NI 43-101.

 

5.

I visited the Éléonore Gold Project from June 3 until June 10, 2009 for eight days.

 

6.

I am responsible for Section 14.0 “Mineral Resource Estimates” of the Technical Report.

 

7.

I am not an independent qualified person as described in section 1.5 of NI 43-101, as I am an employee of the Issuer.

 

8.

I was first involved in the mineral resource estimate work of Éléonore project in the year 2009.

 

9.

I have read NI 43-101 and the Technical Report has been prepared in compliance with NI 43-101.

 

10.

As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2012

 

(signed) “Eric Chen”
Eric Chen, P. Geo.,

Superintendant of Long Range Planning & Modelling,

Peñasquito Mine, Goldcorp Inc.

 

 

Certificates


CERTIFICATEpgss

OF QUALIFIED PERSON

I, Jacques Simoneau, P.Geo., as an author of this report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 prepared for Goldcorp Inc. (the “Issuer”) do hereby certify that:

 

1.

I am Exploration Manager, Éléonore Project, Goldcorp Inc., 853 boul. Rideau, Rouyn-Noranda, Quebec, Canada, J9Y 0G3.

 

2.

This certificate applies to the technical report “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 (the “Technical Report”).

 

3.

I am a graduate of Université de Montréal with a BSc in Geology in 1988. I am an exploration geologist and have been practicing my profession continuously since 1988. I am a Professional Geoscientist registered with the Ordre des Géologues du Québec (OGQ #737) and of the Association of Professional Engineers, Geologists and Geophysicists of NWT and Nunavut (NAPEGG #1503).

 

4.

I am familiar with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and by reason of education, experience and professional registration I fulfill the requirements of a “qualified person” as defined in NI 43-101.

 

5.

I have been working on the Éléonore Project full time since April 1st, 2006.

 

6.

I am responsible for Sections 6 to 13 of the Technical Report.

 

7.

I am not an independent qualified person as described in section 1.5 of NI 43-101, as I am an employee of the Issuer.

 

8.

I have no prior involvement with the property.

 

9.

I have read NI 43-101 and the Technical Report has been prepared in compliance with NI 43-101.

 

10.

As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2012

 

(signed) “Jacques Simoneau”

Jacques Simoneau, P.Geo.,

Exploration Manager, Éléonore Project

Goldcorp Inc.

 

 

Certificates


CERTIFICATE OF QUALIFIED PERSON

I, Andy Fortin, Eng., as an author of this report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 prepared for Goldcorp Inc. (the “Issuer”) do hereby certify that:

 

1.

I am Manager, Process and Surface Operations, Éléonore Project, Goldcorp Inc., 333, 3ième Rue, Bureau 2, Chibougamau, Québec, Canada, G8P 1N4.

 

2.

This certificate applies to the technical report “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 (the “Technical Report”).

 

3.

I am a member of Ordre des Ingénieurs du Québec. I graduated with a Bachelor of Science degree in Metallurgy from Laval University in 1995. I have a background of 16 years in gold mineral processing, through three gold mine projects and two process plant expansions. I occupied several positions as Chief Metallurgist, Operation General Foreman, Project Manager and Process Plant Manager. I developed an expertise in process plant start-up and gold mineral processing. I have worked as a senior manager level for a total of 12 years.

 

4.

I am familiar with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and by reason of education, experience and professional registration I fulfill the requirements of a “qualified person” as defined in NI 43-101.

 

5.

I visited the Éléonore Gold Project from December 5th until December 15th for eight days.

 

6.

I am responsible for Sections 13.0 “Mineral Processing and Metallurgical Testing”; 17.0 “Recovery Methods” and 18.2 “Surface Infrastructures” of the Technical Report.

 

7.

I am not an independent qualified person as described in section 1.5 of NI 43-101, as I am an employee of the Issuer.

 

8.

I was first involved in the metallurgical testing and gold recovery methods in January, 2011.

 

9.

I have read NI 43-101 and the Technical Report has been prepared in compliance with NI 43-101.

 

10.

As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2012

 

(signed and sealed) “Andy Fortin”
Andy Fortin, Eng.

Manager, Process and Surface

Operations, Éléonore Project

Goldcorp Inc.

 

 

Certificates


CERTIFICATE OF QUALIFIED PERSON

I, Maryse Belanger, P.Geo., as an author of this report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012, prepared for Goldcorp Inc. (the “Issuer”) do hereby certify that:

 

1.

I am Vice President Technical Services, Goldcorp Inc., located at 666 Burrard St., Suite 3400, Vancouver, British Columbia, Canada, V6C 2X8

 

2.

This certificate applies to the technical report entitled “Éléonore Gold Project Quebec, Canada NI 43-101 Technical Report” with an effective date of January 26, 2012 (the “Technical Report”).

 

3.

I graduated with a Bachelor of Science degree (BSc) in Earth Sciences from the Université du Québec à Chicoutimi in 1985. I studied Geostatistics at the Centre de Géostatistique in Fontainbleau, France in 1986. I have worked as a geologist for a total of 25 years. I am a member in good standing of the Association of Professional Geoscientists of Ontario (APGO) with Registration No. 0125

 

4.

I am familiar with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and by reason of education, experience and professional registration I fulfill the requirements of a “qualified person” as defined in NI 43-101.

 

5.

I have visited the Éléonore Gold Project since November 2009, with the last site visit occurring between June 27 and July 1, 2011.

 

6.

I am responsible for Sections 1, 2, 3, 4, 5, 18, 19, 20, 21, 22, 23, 24, 25, 26 and 27 of the Technical Report.

 

7.

I am not an independent qualified person as described in section 1.5 of NI 43-101, as I am an employee of the Issuer.

 

8.

I have been involved with the Éléonore Gold Project since 2009 in my capacity as Vice President Technical Services

 

9.

I have read NI 43-101 and the Technical Report has been prepared in compliance with NI 43-101.

 

10.

As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2012

 

(signed and sealed) “Maryse Belanger”

Maryse Belanger, P. Geo.,

Vice President Technical Services,

Goldcorp Inc.

 

 

Certificates


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

CONTENTS

 

 

1.0

  

SUMMARY

     1-1   
  

1.1

 

Location, Climate, and Access

     1-1   
  

1.2

 

Agreements and Royalties

     1-1   
  

1.3

 

Mineral Tenure and Surface Rights

     1-2   
  

1.4

 

Environment, Permitting and Socio-Economics

     1-2   
  

1.5

 

Geology and Mineralization

     1-3   
  

1.6

 

Exploration

     1-4   
  

1.7

 

Drilling

     1-5   
  

1.8

 

Sample Analysis and Security

     1-6   
  

1.9

 

Data Verification

     1-7   
  

1.10

 

Metallurgical Testwork

     1-8   
  

1.11

 

Mineral Resource Estimate

     1-8   
  

1.12

 

Mineral Reserve Estimate

     1-10   
  

1.13

 

Proposed Mine Plan

     1-12   
  

1.14

 

Future Development Strategy

     1-13   
  

1.15

 

Proposed Process Plan

     1-14   
  

1.16

 

Infrastructure Considerations

     1-15   
    

1.16.1

 

Access Road

     1-15   
    

1.16.2

 

Airstrip

     1-15   
    

1.16.3

 

Power Supply

     1-16   
    

1.16.4

 

Water

     1-16   
    

1.16.5

 

Fuel

     1-16   
    

1.16.6

 

Infrastructures

     1-16   
  

1.17

 

Markets and Contracts

     1-17   
  

1.18

 

Capital and Operating Cost Estimates

     1-17   
  

1.19

 

Financial Analysis

     1-18   
  

1.20

 

Sensitivity Analysis

     1-20   
  

1.21

 

Conclusions

     1-20   
  

1.22

 

Preliminary Development Schedule

     1-21   
  

1.23

 

Recommendations

     1-21   

2.0

  

INTRODUCTION

     2-1   
  

2.1

 

Terms of Reference

     2-1   
  

2.2

 

Qualified Persons

     2-1   
  

2.3

 

Site Visits and Scope of Personal Inspection

     2-2   
  

2.4

 

Effective Dates

     2-3   
  

2.5

 

Information Sources and References

     2-3   
  

2.6

 

Previous Technical Reports

     2-4   

3.0

  

RELIANCE ON OTHER EXPERTS

     3-1   

4.0

  

PROPERTY DESCRIPTION AND LOCATION

     4-1   
  

4.1

 

Project History

     4-1   
  

4.2

 

Mineral Tenure

     4-1   
  

4.3

 

Surface Rights

     4-3   
  

4.4

 

Royalties

     4-6   
  

4.5

 

Agreements

     4-6   
  

4.6

 

Permits

     4-6   
  

4.7

 

Environment

     4-6   

 

 

TOC i


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  

4.8

 

Social Licence

     4-6   
  

4.9

 

Comment on Section 4

     4-7   

5.0

  

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

     5-1   
  

5.1

 

Accessibility

     5-1   
  

5.2

 

Climate

     5-1   
  

5.3

 

Local Resources and Infrastructure

     5-1   
  

5.4

 

Physiography

     5-2   
  

5.5

 

Comment on Section 5

     5-3   

6.0

  

HISTORY

     6-1   

7.0

  

GEOLOGICAL SETTING AND MINERALIZATION

     7-1   
  

7.1

 

Regional Geology

     7-1   
  

7.2

 

Local Geology

     7-4   
    

7.2.1

 

Metasedimentary Units

     7-4   
    

7.2.2

 

Intrusive Units

     7-5   
    

7.2.3

 

Structure

     7-5   
  

7.3

 

Roberto Deposit

     7-6   
  

7.4

 

Exploration Targets

     7-9   
  

7.5

 

Comments on Section 7

     7-9   

8.0

  

DEPOSIT TYPES

     8-1   
  

8.1

 

Comment on Section 8

     8-2   

9.0

  

EXPLORATION

     9-1   
  

9.1

 

Grids and Surveys

     9-1   
  

9.2

 

Geological and Structural Mapping

     9-2   
  

9.3

 

Geochemistry

     9-3   
  

9.4

 

Geophysics

     9-3   
  

9.5

 

Trenches

     9-8   
  

9.6

 

Theses

     9-10   
  

9.7

 

Exploration Potential

     9-11   
  

9.8

 

Comment on Section 9

     9-12   

10.0

  

DRILLING

     10-1   
  

10.1

 

Virginia Drilling

     10-1   
  

10.2

 

Drilling Methods

     10-8   
  

10.3

 

Field Procedures

     10-8   
  

10.4

 

Geological Logging

     10-9   
  

10.5

 

Recovery

     10-10   
  

10.6

 

Collar Surveys

     10-10   
  

10.7

 

Down-Hole Surveys

     10-11   
  

10.8

 

Geotechnical and Hydrological Drilling

     10-12   
  

10.9

 

Metallurgical Drilling

     10-12   
  

10.10

 

Condemnation Drilling

     10-12   
  

10.11

 

Drill Spacing

     10-12   
  

10.12

 

Drill Sample Length/True Thickness

     10-13   
  

10.13

 

Drill Intercepts

     10-13   
  

10.14

 

Comment on Section 10

     10-15   

11.0

  

SAMPLE PREPARATION, ANALYSES AND SECURITY

     11-1   
  

11.1

 

Sampling Methods

     11-1   

 

 

TOC ii


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

    

11.1.1

 

Geochemical Sampling

     11-1   
    

11.1.2

 

Trench and Channel Sampling

     11-1   
    

11.1.3

 

Drill Sampling

     11-1   
  

11.2

 

Metallurgical Sampling

     11-2   
  

11.3

 

Density/Specific Gravity Determinations

     11-2   
  

11.4

 

Analytical and Test Laboratories

     11-3   
  

11.5

 

Sample Preparation and Analysis

     11-5   
    

11.5.1

 

Expert Sample Preparation Procedures

     11-5   
    

11.5.2

 

ALS Chemex Sample Preparation Procedures

     11-5   
    

11.5.3

 

Actlabs Sample Preparation Procedures

     11-5   
    

11.5.4

 

Expert Analytical Procedures

     11-6   
    

11.5.5

 

ALS Chemex Analytical Procedures

     11-6   
    

11.5.6

 

Actlabs Analytical Procedures

     11-6   
  

11.6

 

Quality Assurance and Quality Control

     11-6   
    

11.6.1

 

Expert

     11-6   
    

11.6.2

 

ALS Chemex

     11-6   
    

11.6.3

 

Actlabs

     11-7   
    

11.6.4

 

Virginia Gold

     11-7   
    

11.6.5

 

Opinaca

     11-7   
  

11.7

 

Databases

     11-8   
  

11.8

 

Security

     11-9   
    

11.8.1

 

Sample Security

     11-9   
    

11.8.2

 

Sample Storage

     11-9   
  

11.9

 

Comment on Section 11

     11-9   

12.0

  

DATA VERIFICATION

     12-1   
  

12.1

 

Smee (2007)

     12-1   
  

12.2

 

SRK Consulting (2007)

     12-1   
  

12.3

 

G.N. Lustig Consulting Ltd (2007)

     12-1   
  

12.4

 

G.N. Lustig Consulting Ltd (2008)

     12-2   
  

12.5

 

Goldcorp

     12-2   
  

12.6

 

Comment on Section 12

     12-2   

13.0

  

MINERAL PROCESSING AND METALLURGICAL TESTING

     13-1   
  

13.1

 

Metallurgical Testwork

     13-1   
    

13.1.1

 

Metallurgical Testwork 2006

     13-1   
    

13.1.2

 

Metallurgical Testwork 2007

     13-5   
    

13.1.3

 

Metallurgical Testwork 2008

     13-6   
  

13.2

 

Comminution Tests

     13-9   
  

13.3

 

Gravity

     13-10   
  

13.4

 

Flotation

     13-15   
    

13.4.1

 

Collector Suite Optimisation

     13-15   
    

13.4.2

 

Grind Size Optimisation

     13-15   
    

13.4.3

 

Flotation Test Work Results

     13-17   
  

13.5

 

Cyanidation

     13-17   
    

13.5.1

 

Cyanidation Test Work on Flotation Concentrates

     13-17   
    

13.5.2

 

Cyanidation Test Work on Gravity and Flotation Tailings

     13-19   
  

13.6

 

Process Flowsheet Development (SGS Lakefield test work in 2010).

     13-21   
  

13.7

 

Cyanide Detoxification

     13-25   
  

13.8

 

Sedimentation and Filtration Tests on Tailings

     13-26   
    

13.8.1

 

Thickening Tests

     13-26   
    

13.8.2

 

Filtration Tests

     13-27   

 

 

TOC iii


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  

13.9

 

Paste Backfill

     13-28   
  

13.10

 

Projected Gold Recovery

     13-29   
  

13.11

 

Comment on Section 13

     13-32   

14.0

  

MINERAL RESOURCE ESTIMATES

     14-1   
  

14.1

 

Basis of Estimate

     14-1   
  

14.2

 

Geological Models

     14-2   
  

14.3

 

Exploratory Data Analysis

     14-3   
  

14.4

 

Grade Capping

     14-3   
  

14.5

 

Composites

     14-4   
  

14.6

 

Variography

     14-5   
  

14.7

 

Estimation

     14-5   
  

14.8

 

Block Model Validation

     14-6   
  

14.9

 

Validation of Goldcorp Single Block Model

     14-6   
  

14.10

 

Classification of Mineral Resources

     14-6   
  

14.11

 

Reasonable Prospects of Economic Extraction

     14-8   
  

14.12

 

Mineral Resource Statement

     14-8   
  

14.13

 

Comment on Section 14

     14-9   

15.0

   MINERAL RESERVE ESTIMATES      15-1   
  

15.1

 

Estimation Procedure

     15-1   
  

15.2

 

Dilution

     15-3   
  

15.3

 

Mining Widths

     15-3   
  

15.4

 

Mining Extraction and Ore Losses

     15-3   
  

15.5

 

Conversion Factors from Mineral Resources to Mineral Reserves

     15-4   
  

15.6

 

Mineral Reserve Statement

     15-4   
  

15.7

 

Comment on Section 15

     15-5   

16.0

   MINING METHODS      16-1   
  

16.1

 

Geotechnical Considerations

     16-1   
    

16.1.1

 

Rock Mass Quality

     16-1   
    

16.1.2

 

Stope Design

     16-2   
    

16.1.3

 

Ground Support

     16-2   
    

16.1.4

 

Backfill

     16-3   
    

16.1.5

 

Surface Crown Pillar

     16-4   
    

16.1.6

 

Hydrological Considerations

     16-4   
  

16.2

 

Project Infrastructure

     16-6   
  

16.3

 

Proposed Mine Plan

     16-6   
    

16.3.1

 

Production Rate

     16-9   
    

16.3.2

 

Projected Mine Life

     16-10   
    

16.3.3

 

Ventilation

     16-14   
    

16.3.4

 

Explosives

     16-14   
    

16.3.5

 

Loading

     16-14   
    

16.3.6

 

Equipment Fleet

     16-15   
    

16.3.7

 

Dewatering Considerations

     16-15   
    

16.3.8

 

Communication System

     16-16   
    

16.3.9

 

Backfill

     16-17   
  

16.4

 

Wall Over-break Mining Dilution

     16-17   
  

16.5

 

Production Reconciliation

     16-18   
  

16.6

 

Production Schedule

     16-18   
  

16.7

 

Comment on Item 16

     16-18   

17.0

   RECOVERY METHODS      17-1   

 

 

TOC iv


LOGO

  

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  

17.1

 

Process Flowsheet Summary

     17-1   
  

17.2

 

Crushing Circuit

     17-3   
  

17.3

 

Grinding Circuit

     17-3   
  

17.4

 

Gravity Circuit and Intensive Cyanidation

     17-4   
  

17.5

 

Flotation Circuit

     17-4   
  

17.6

 

Flotation Tails Leaching and CIP Circuit

     17-4   
  

17.7

 

Flotation Concentrate Leaching and CIP Circuit

     17-6   
  

17.8

 

Carbon Elution Circuit and Carbon Regeneration

     17-7   
  

17.9

 

Electrowinning and Refining

     17-8   
  

17.10

 

Cyanide Destruction

     17-9   
  

17.11

 

Filtration Plant

     17-9   
  

17.12

 

Paste Backfill Plant

     17-9   
  

17.13

 

Fresh and Process Water Supply

     17-10   
  

17.14

 

Comments on Section 17

     17-11   

18.0

   PROJECT INFRASTRUCTURE      18-1   
  

18.1

 

Underground Infrastructure

     18-1   
    

18.1.1

 

Gaumond/Ventilation Shaft

     18-1   
    

18.1.2

 

Surface Ramp

     18-2   
    

18.1.3

 

Loading Station

     18-2   
    

18.1.4

 

Shaft Bottom Ramp

     18-3   
    

18.1.5

 

Ore/Waste Passes

     18-3   
    

18.1.6

 

Ventilation Raise

     18-4   
  

18.2

 

Surface Infrastructure

     18-4   
    

18.2.1

 

Waste Dumps

     18-4   
    

18.2.2

 

Tailings Facility

     18-6   
    

18.2.3

 

Main Camp

     18-8   
    

18.2.4

 

Service Buildings

     18-9   
    

18.2.5

 

Process Facilities

     18-10   
    

18.2.6

 

Terminal and Airstrip

     18-11   
  

18.3

 

Electrical Power

     18-11   
  

18.4

 

Fuel Storage

     18-13   
    

18.4.1

 

Airstrip Tank Farm

     18-13   
    

18.4.2

 

The Depot (Mine Site)

     18-13   
    

18.4.3

 

Fuel Station

     18-14   
  

18.5

 

Water Management

     18-14   
    

18.5.1

 

Potable Water for Campsite and Industrial Area

     18-14   
    

18.5.2

 

Wastewater Collection and Treatement

     18-15   
    

18.5.3

 

Industrial Effluent Water Collection and Treatment

     18-16   
  

18.6

 

Workforce

     18-19   
  

18.7

 

Comment on Section 18

     18-24   

19.0

   MARKET STUDIES AND CONTRACTS      19-1   
  

19.1

 

Comment on Section 19

     19-1   

20.0

   ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT      20-1   
  

20.1

 

Baseline Studies

     20-1   
  

20.2

 

Environmental Issues

     20-1   
  

20.3

 

Closure Plan

     20-2   
  

20.4

 

Permitting

     20-4   
  

20.5

 

Considerations of Social and Community Impacts

     20-5   
    

20.5.1

 

First Nations

     20-5   

 

 

TOC v


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

    

     20.5.2

 

Community Consultations

     20-6   
    

     20.5.3

 

Archaeology

     20-6   
  

20.6

 

Comment on Section 20

     20-7   

21.0

   CAPITAL AND OPERATING COSTS      21-1   
  

21.1

 

Capital Costs

     21-1   
  

21.2

 

Operating Costs

     21-2   
  

21.3

 

Comment on Section 21

     21-7   

22.0

   ECONOMIC ANALYSIS      22-1   
  

22.1

 

Basis of Estimate

     22-1   
  

22.2

 

Taxation Considerations

     22-1   
  

22.3

 

Royalty Considerations

     22-1   
  

22.4

 

Cree Payment

     22-2   
  

22.5

 

Capital and Operating Costs

     22-2   
  

22.6

 

Other Assumptions

     22-2   
  

22.7

 

Financial Analysis

     22-2   
  

22.8

 

Sensitivity Analysis

     22-6   
  

22.9

 

Comment on Section 20

     22-6   

23.0

   ADJACENT PROPERTIES      23-1   

24.0

   OTHER RELEVANT DATA AND INFORMATION      24-1   
  

24.1

 

Preliminary Development Schedule

     24-1   
  

24.2

 

Future Development Strategy

     24-1   

25.0

   INTERPRETATION AND CONCLUSIONS      25-1   
  

25.1

 

Mineral Tenure, Surface Rights, Agreements, and Royalties

     25-1   
  

25.2

 

Geology and Mineralization

     25-1   
  

25.3

 

Exploration, Drilling, and Data Analysis

     25-1   
  

25.4

 

Metallurgical Testwork

     25-3   
  

25.5

 

Mineral Resource Estimation

     25-3   
  

25.6

 

Mineral Reserve Estimation

     25-4   
  

25.7

 

Mine Plan

     25-5   
  

25.8

 

Proposed Process Plant

     25-6   
  

25.9

 

Infrastructure Considerations

     25-7   
  

25.10

 

Markets and Contracts

     25-8   
  

25.11

 

Environmental, Social Issues and Permitting

     25-8   
    

25.11.1

 

Environment

     25-8   
    

25.11.2

 

Community

     25-9   
    

25.11.3

 

Permitting

     25-9   
  

25.12

 

Capital and Operating Cost Estimates

     25-9   
  

25.13

 

Financial Analysis

     25-10   
  

25.14

 

Preliminary Development Schedule

     25-10   
  

25.15

 

Future Development Strategy

     25-10   
  

25.16

 

Conclusions

     25-11   

26.0

   RECOMMENDATIONS      26-1   
  

26.1

 

Phase 1

     26-1   
    

26.1.1

 

Upper Mine – Phase 1 Exploration Program (surface to 650 m depth)

     26-1   
    

26.1.2

 

Lower Mine – Phase 1 Exploration Program (650 m to 1,400 m depth)

     26-1   
    

26.1.3

 

Exploration Drilling

     26-2   
  

26.2

 

Phase 2

     26-2   

 

 

TOC vi


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

27.0

   REFERENCES      27-1   
  

27.1

 

Bibliography

     27-1   

TABLES

 

 

Table 1-1:

 

Mineral Resource Estimate for the Éléonore Project, Effective Date December 31, 2011, Eric Chen, P.Geo

     1-11   

Table 1-2:

 

Mineral Reserve Statement for the Éléonore Project, Effective Date December 31, 2011, Carl Michaud Eng.

     1-11   

Table 1-3:

 

Summary Cashflow analysis

     1-20   

Table 4-1:

 

Description of the Claim Blocks

     4-3   

Table 4-2:

 

Work Requirement per Renewal Period

     4-4   

Table 4-3:

 

Surface Lease Summary Table

     4-5   

Table 4-4:

 

Quarry and Sand Pits

     4-5   

Table 4-5:

 

Royalties Payable, Based on Production and Gold Price

     4-7   

Table 9-1:

 

Summary of Exploration Work Carried Out on the Éléonore Project

     9-2   

Table 10-1:

 

Drill Hole Summary Table

     10-2   

Table 10-2:

 

Drill Intercept Summary Table (V: Virginia; G: Goldcorp)

     10-14   

Table 11-1:

 

Specific Gravity Summary Table

     11-4   

Table 11-2:

 

Metallurgical Testwork Laboratories

     11-4   

Table 13-1:

 

Sample Requirements for the Proposed Test Program

     13-2   

Table 13-2:

 

Chemical Analysis of Metallurgical Composites

     13-3   

Table 13-3:

 

Semi-Quantitative ICP Scan Results, Elevation Composites

     13-4   

Table 13-4:

 

Acid-Base Accounting Results

     13-5   

Table 13-5:

 

Composite Samples Head Analysis

     13-7   

Table 13-6:

 

Composite Samples Metallic-Screened for Gold Analysis

     13-8   

Table 13-7:

 

2008 Comminution and Metallurgical Samples

     13-9   

Table 13-8:

 

2008 Comminution and Metallurgical Samples

     13-9   

Table 13-9

 

Summary of Bond Testwork

     13-11   

Table 13-10:

 

Summary of Gravity-Recoverable Gold Tests Results (2006 to 2008)

     13-13   

Table 13-11:

 

Gravity-Recoverable Gold Tests Results for the Orebody Composites (2006)

     13-14   

Table 13-12:

 

Average GRG Separation Test Results

     13-14   

Table 13-13:

 

Collector Suite Optimisation

     13-16   

Table 13-14:

 

Flotation Testwork Results

     13-19   

Table 13-15:

 

Intensive Cyanidation Testwork Results, Orebody Composite Flotation Concentrate

     13-20   

Table 13-16:

 

Gravity Tailing Cyanidation Grind Size Optimisation Test Results

     13-21   

Table 13-17:

 

Flotation Tailing Cyanidation Grind Size Optimisation Test Results

     13-21   

Table 13-18:

 

Metallurgical Results from the Process Development Stage

     13-22   

Table 13-19:

 

Combined Overall Circuit Gold Recoveries

     13-22   

Table 13-20:

 

Overall Metallurgical Results for the FS-1 and FS-2 Flowsheets

     13-25   

Table 13-21:

 

Cyanide Detoxification Test Results

     13-27   

Table 13-22:

 

Thickener Tests Results Conducted by FLSmidth (Flotation Tails)

     13-27   

Table 13-23:

 

Overall Gold Recovery from the Grade Variability Recovery Composites

     13-31   

Table 13-24:

 

Overall Gold Recovery from the Grade Variability Recovery Composites (continued)

     13-31   

Table 14-1:

 

High Grade Capping on Au Assays – Main HG Veins

     14-4   

 

 

TOC vii


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Table 14-2:

 

High Grade Capping on Au Composites – Other Veins

     14-4   

Table 14-3:

 

Resource Model Estimation Plan

     14-7   

Table 14-4:

 

Mineral Resource Estimate for the Éléonore Project, Effective Date December 31, 2011, Eric Chen, P.Geo

     14-10   

Table 15-1:

 

Geometry Constraints

     15-2   

Table 15-2:

 

Probable Mineral Reserve Statement for the Éléonore Project, Effective Date December 31, 2011, Carl Michaud Eng.

     15-5   

Table 16-1:

 

Lateral and Vertical Development of the Pre-Production Period and the Life Of Mine

     16-11   

Table 16-2:

 

Projected Annual Ore Tonnage from Development and Stopes

     16-13   

Table 16-3:

 

Required Equipment Fleet to Support 3,500 t/day Production Rate

     16-16   

Table 16-4:

 

Pump characteristics and their localisation

     16-16   

Table 18-1:

 

Design Flows

     18-17   

Table 18-2:

 

Projected Workforce Requirement for the Mine Department

     18-20   

Table 18-3:

 

Estimated Workforce Requirement for the Mine Maintenance Department

     18-21   

Table 18-4:

 

Proposed Workforce Requirement for the Engineering and Geology Departments

     18-21   

Table 18-5:

 

Number of Contractor Employees

     18-22   

Table 18-6:

 

Projected Workforce Requirement for the Process Department

     18-23   

Table 18-7:

 

Projected Workforce Requirement for the Surface Department

     18-24   

Table 20-1:

 

Key Environmental Issues Identified at a Pre-Feasibility Study Level

     20-3   

Table 20-2:

 

Mine Closure Cost Forecast

     20-4   

Table 20-3:

 

Key Permits and Authorizations Required for Project Construction and Development

     20-6   

Table 21-1:

 

Initial Capital Cost Estimate

     21-3   

Table 21-2:

 

Sustaining Capital Cost Estimate

     21-5   

Table 21-3:

 

Operating Cost Estimates

     21-6   

Table 22-1:

 

Royalty Adjustment with Gold Price

     22-3   

Table 22-2:

 

Cashflow Analysis Years 1 to 8 (includes three years of pre-production)

     22-4   

Table 22-3:

 

Cashflow Analysis Years 9 to 14 (includes one year of post-production close-out)

     22-5   

FIGURES

 

 

Figure 1-1

 

Sensitivity Analysis

     1-21   

Figure 2-1:

 

Project Location Plan (2012)

     2-2   

Figure 4-1:

 

Mineral Tenure Plan

     4-2   

Figure 5-1:

 

Air photograph of the Éléonore Camp

     5-3   

Figure 7-1:

 

Geology of the La Grande and Opinaca Sub-Provinces and Volcano–Sedimentary Belts (2011)

     7-2   

Figure 7-2:

 

Project Geology Map (2011)

     7-3   

Figure 7-3:

 

Geology Map of the Roberto Deposit (2010)

     7-7   

Figure 7-4:

 

Roberto Deposit Section View, Looking North (2010). Vein envelopes are based on drilled thicknesses

     7-8   

Figure 9-1:

 

Plan Showing Till Sampling Sites (2008)

     9-4   

Figure 9-2:

 

Lake-Bottom Sediment Sampling: Anomalous Contour and Location of The Three Sector Of Interests (2010)

     9-5   

Figure 9-3:

 

2006 VTEM survey. Plan showing surveyed lines

     9-6   

Figure 9-4:

 

2006 VTEM Survey. Plan showing the apparent resistivity at 0.96ms

     9-7   

 

 

TOC viii


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Figure 9-5:

 

Induced Polarization Survey: Plan Showing Surveyed Lines Over The Roberto Area (2008)

     9-9   

Figure 9-6:

 

Induced Polarization Survey: Plan Showing Chargeability And Interpreted Anomalies (2008)

     9-9   

Figure 9-7:

 

Roberto Area, Location Of Trenches Performed By Goldcorp (2008)

     9-11   

Figure 10-1:

 

Drill Hole Location Plan, Exploration and Infill Drill Programs (2012)

     10-3   

Figure 10-2:

 

Regional Drill Hole Plan- Éléonore Property (2012)

     10-4   

Figure 10-3:

 

Metallurgical Drilling Collar Location (2012)

     10-5   

Figure 10-4:

 

Hydrological Drilling Collar Location Plan (2012)

     10-6   

Figure 10-5:

 

Geotechnical/Condemnation Drilling Collar Location Plan (2012)

     10-7   

Figure 10-6:

 

Cross-section (2800N) showing an example of Virginia Drilling, from Technical Report and Recommendations May 2005 Drilling Program, Éléonore Property, Quebec

     10-9   

Figure 13-1:

 

Comparison of the Bond Ball Mill Work Index for the Éléonore Ores and Values in the SGS Ball Mill Work Index Database

     13-11   

Figure 13-2:

 

Comparison of the Crushing Impact Work Index of the Éléonore Ores and Values in the SGS Crushing Impact Work Index Database

     13-12   

Figure 13-3:

 

Comparison of the Abrasion Index Values of the Éléonore Ores to Values in the SGS Abrasion Index Values Database

     13-12   

Figure 13-4:

 

Grind Size Optimisation, Orebody Composite Flotation

     13-16   

Figure 13-5:

 

Flotation Testwork Results, Gold Recovery

     13-18   

Figure 13-6:

 

Comparative Process Flowsheets

     13-24   

Figure 13-7:

 

Grade Variability Recovery Composite Test Work Flowsheet

     13-30   

Figure 13-8:

 

Projected Gold Recovery versus Head Grade

     13-30   

Figure 14-1:

 

Mineral Resource Model

     14-2   

Figure 15-1:

 

Locations of the North and South Zones Defined for MSO Simulations

     15-2   

Figure 16-1:

 

Longitudinal View Of The Economic Stopes And The Proposed Major Infrastructure

     16-7   

Figure 16-2:

 

Life of Mine Diagram

     16-8   

Figure 16-3:

 

Longitudinal Mining Method with Consolidated Backfill – Longitudinal Section

     16-8   

Figure 16-4:

 

Typical Level Plan View

     16-10   

Figure 16-5:

 

Annual Ore Tonnage Projections from Development and Stopes

     16-12   

Figure 17-1:

 

General Process Plant Flowsheet

     17-2   

Figure 17-2:

 

Plant Water Balance

     17-11   

Figure 18-1:

 

Aerial Plan Schematic of the Location of the Proposed Infrastructure

     18-2   

Figure 18-2:

 

General Arrangement of the 650-690 Loading Station

     18-3   

Figure 18-3:

 

General Arrangement On A Typical Level

     18-5   

Figure 18-4:

 

Section View Of A Typical Ore Pass Network

     18-5   

Figure 18-5:

 

Longitudinal Section Showing the Location of the Main Underground Infrastructure

     18-6   

Figure 18-6:

 

Design Tailing Area

     18-7   

Figure 22-1:

 

Sensitivity Analysis

     22-7   

APPENDICES

 

 

Appendix 1:

  

List of Claims

 

 

TOC ix


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

1.0

SUMMARY

Mr Carl Michaud Eng., Mr Andy Fortin Eng., Mr. Jacques Simoneau P.Geo., Ms Maryse Belanger P.Geo. and Mr. Eric Chen, P.Geo. prepared a Technical Report (the Report) for Goldcorp Inc (Goldcorp) on the wholly-owned Éléonore gold project (the Project) located in Quebec, Canada. The Project hosts the Roberto gold deposit, which consists of the Roberto, East Roberto, and Zone du Lac lenses.

This Report supports first-time disclosure of Mineral Reserves for the Project, and is based on an internal pre-feasibility study completed by Goldcorp in 2010, and updated in 2011. Goldcorp will be using the Report in support of the 2012 Annual Information Form filing.

The operating entity for the Project is a wholly-owned Goldcorp subsidiary, Les Mines Opinaca Ltée (Opinaca). For the purposes of this Report, “Goldcorp” is used to refer interchangeably to the parent and subsidiary companies.

 

1.1

Location, Climate, and Access

The Éléonore Project is located in the Lake Ell area, in the northeastern part of the Opinaca reservoir of the James Bay region, in the Province of Quebec, Canada. The Project is located approximately 350 km north of the towns of Matagami and Chibougamau, and 825 km north of Montreal.

The Project area is characterized by cold winters and short, cool, summers. Precipitation varies throughout the year, reaching an average of two metres annually.

Currently, there is no permanent road access to the Éléonore property. A winter road, which is functional between January and early April, links the property to Hydro-Quebec’s Sarcelle hydro-electric facility. Workers are mobilized on site via a temporary year-round air strip located approximately 1.5 km north of the exploration camp.

 

1.2

Agreements and Royalties

A royalty payable on production from Éléonore to Virginia Mines Limited is set at 2.20% on the first 3 Moz of gold, and increases by 0.25% per million ounces thereafter, up to a maximum of 3.50%. The royalty payable in each period is adjusted up or down by an amount ranging between zero and 10%, depending on the gold price in effect during that period. Advanced payment of royalties of US$100,000 per month commenced on April 1, 2009.

 

 

Page 1-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

An annual payment is required to the Cree Nation under a confidential Cree Collaboration Agreement.

 

1.3

Mineral Tenure and Surface Rights

The Éléonore Project comprises 369 contiguous claims totalling 19,188 ha. The claims are 100% owned by Les Mines Opinaca Ltée.

A block of four claims totalling 208 ha located in the central area of the property was purchased in 2011 by Goldcorp under an agreement with Wemindji Exploration. The four claims are now 100% owned by Les Mines Opinaca Ltée.

Contiguous with the Project area are claims that are part of a tripartite joint venture between Eastmain Resources, Resource Azimuth, and Opinaca, and which form the Éléonore South and Éléonore South-West properties. These 282 claims cover a total area of 14,664 ha.

Claims are map-staked, not surveyed on the ground and are valid for a two year period and can be renewed every two years. Renewal fees are $123 per claim if renewed 60 days before the expiry date and $226 if renewed within the 60 days of renewal. In order to maintain tenure, an exploration work equivalent ranging from $135 to $2,500 per claim is required depending on the number of renewals previously granted. Work expenditures that are in excess of the amount required for the term can be transfer to other contiguous claims that are within 4.5 km from the center of the claim or can be credited for future renewal.

In the opinion of the QPs, information from legal and Goldcorp experts support that the mineral tenure held is valid and is sufficient to support declaration of Mineral Resources and Mineral Reserves.

Surface rights in the Project area are classified as Category III provincial territories as per the James Bay Convention, which gives certain hunting and fishing rights to the First Nation communities of the region.

In the opinion of the QPs, there are no pre-existing surface rights which are in conflict with the development of the project. A mining lease is needed prior to mining activity commencing in Quebec. The application for the lease is in progress.

 

1.4

Environment, Permitting and Socio-Economics

The Project is not required to be evaluated under the Federal environmental process, and has achieved Provincial permitting under Chapter II of the Environmental Quality Act (EQA) for a project located north of the 49th parallel. An Environmental Impact and Social Assessment (ESIA) was carried out, subject to consultation by the Cree

 

 

Page 1-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Nation, local communities and the general public, and culminated in Goldcorp obtaining the principal, global Certificate of Authorization (C of A) for the Project on November 11, 2011.

Following receipt of this principal C of A, all the other C of A to be issued under Chapter I of the EQA for the construction of the site can now be applied for. The C of A for the construction of production wells was issued a few days after the global C of A was obtained, and thereby allowing the start of well construction.

 

1.5

Geology and Mineralization

The Roberto deposit is a clastic sediment-hosted stockwork-disseminated gold deposit in an orogenic setting, but is an atypical deposit in that it displays only some of the characteristics associated with the greenstone-hosted quartz-carbonate vein deposits as described by the Geological Survey of Canada.

The Project is hosted in Achaean-age rocks of a volcano-sedimentary greenstone belt developed near the contact between the Opinaca and La Grande Sub-provinces of the Superior Province.

Rock units from the Opinaca Sub-province make up the northeastern corner of the Project area. Lithologies are dominated by granite, granodiorites and heterogeneous assemblages of pegmatites, tonalites and granites from the Janin Intrusive Suite intermixed with partially magmatized paragneiss from the Laguiche Complex.

The La Grande Sub-Province rock units make up most of the Project area west of the contact and host the Roberto deposit. Lithologies are dominated by metasedimentary units of the Low Formation and include conglomerates, greywackes, arenites and cherts. Discordantly overlying the Low Formation are basalts and intermediate to felsic tuff units of the Kasak Formation. These units are folded in a large northeast-trending 10 km-long open F1 fold. The 10 km-long Ell Lake diorite intrusion occupies the center of the Project, more or less along the center of the large fold structure.

The Roberto deposit is hosted in polydeformed greywacke units in contact with aluminosilicate-bearing greywacke and thin conglomerate units. The 1.9 km-long crescent shape of the deposit is the result of F2 folding.

Mineralization has been intersected to date to 1,400 m vertical depth. Gold-bearing zones are generally 5–6 m in true thicknesses, varying from 2 m to more than 20 m locally. All zones are still open at depth.

 

 

Page 1-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The numerous sub-parallel mineralized zones are characterized by gold-bearing quartz–dravite–arsenopyrite veinlets, contained within quartz–microcline–biotite–dravite–arsenopyrite–pyrrhotite auriferous replacement zones. Sulphide concentrations within the auriferous zones vary from 2% to 5%, with the main sulphides being arsenopyrite, pyrrhotite and pyrite.

Each mineralized zones were interpreted and modeled in 3D for resource estimation purposes. A total of five zones were interpreted and named Zone 50, 60, 61, 70 and 80 based on their relative position, where Zone 50 is the westernmost zone,

Relationships between the nearby diorite and pegmatite intrusions and the gold mineralization event are still unknown.

Exploration targets have been identified around the Roberto deposit, including the hanging wall veins (HWV) and the North Zone (NZ). Further surface mapping and prospecting on the Éléonore Project is planned. Most of the claims have yet to be significantly explored.

In the opinion of the QPs, knowledge of the deposit settings, lithologies, and structural and alteration controls on mineralization is sufficient to support Mineral Resource and Mineral Reserve estimation. The mineralization style and setting of the Project deposit is sufficiently well understood to support Mineral Resource and Mineral Reserve estimation. Prospects and targets are at an earlier stage of exploration, and the lithologies, structural, and alteration controls on mineralization are currently insufficiently understood to support estimation of Mineral Resources.

 

1.6

Exploration

Work completed prior to Goldcorp acquiring the Project in 2006 was performed by Virginia Mines Inc. (Virginia). Work completed in the period 2001 to 2006 included prospecting, gridding, and mapping, ground induced polarization and magnetic geophysical surveys, a Hummingbird Electromagnetic (HEM) survey, grab and rock chip sampling, soil sampling, trench and channel sampling, and core drilling.

Goldcorp acquired Virginia in March 2006. Since that date, Goldcorp has performed additional geological mapping, core drilling, metallurgical testwork, Mineral Resource and Mineral Reserve estimates, baseline environmental, geotechnical and hydrological studies, and has completed a pre-feasibility study on the Project.

In the opinion of the QPs, the exploration programs completed to date are appropriate to the style of the deposit and prospects within the Project.

 

 

Page 1-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

1.7

Drilling

Approximately 414,976 m have been drilled in 1,094 core holes on the Property since 2004. Of these drill holes 348 (104,532 m) were completed by Virginia and 746 holes (310,944 m) by Goldcorp.

All boreholes were drilled from surface on sections spaced approximately 25 m apart in most parts of the deposit. Borehole spacing of 25 m by 25 m is over the bulk of the orebody to a depth of approximately 250 m below surface. Between 250 m and 700 m below surface, borehole spacing is increased to roughly 50 m by 50 m. Below 700 m, down to approximately 1,000 m, a borehole spacing of 100 m by 100 m is usually implemented.

Standardized logging forms and geological legends were developed for the Project. Geotechnical logs were completed in sequence prior to the geological logging. Geological logging used standard procedures and collected information on mineralization, lithic breaks, alteration boundaries, and major structures. All drill core is photographed.

Core recovery is acceptable for all drill programs, and averages 100% over the life of the Project.

Upon completion, drill hole collars were surveyed using a differential global positioning system (GPS) instrument by a registered surveyor.

Down-hole surveys were carried out by the drill contractor for dip and deviation using a FlexIt instrument. Although this instrument is subject to effects of magnetism in surrounding rock types, rocks underlying the Roberto deposit are very weakly magnetic.

Drill data are typically verified prior to Mineral Resource and Mineral Reserve estimation by running a software program check.

Sample intervals were determined by the geological relationships observed in the core and vary between 0.3 m and 1.25 m. An attempt was made to terminate sample intervals at lithological and mineralization boundaries.

Collecting of specific gravity data was initiated after the project acquisition by Goldcorp and was performed by Goldcorp personnel. Core samples of about 10 cm in length are measured, weighed dry and then wet and the specific gravity of the sample calculated. The specific gravity database contains 11,923 specific gravity results that were determined on core samples. A specific gravity of 2.77 was used for all veins.

 

 

Page 1-5


LOGO

  

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The specific gravity database is currently sufficient to provide a reliable assessment of the variability of the specific gravity across the gold deposit and across the various rock types.

In the opinion of the QPs, the quantity and quality of the lithological, geotechnical, collar and down-hole survey data collected in the exploration and infill drill programs completed by Virginia and Goldcorp are sufficient to support Mineral Resource and Mineral Reserve estimation.

 

1.8

Sample Analysis and Security

Exploration and infill core samples were analysed by independent laboratories using industry-standard methods for gold analysis. A number of different laboratories have been used on the Project. Since January 2007, ALS Chemex in Val d’or in Quebec has been the primary laboratory, and holds ISO 17025 and 9001/2008 certifications.

Metallurgical testwork has been completed at a number of laboratories, but was primarily performed by SGS.

Sample preparation for samples that support Mineral Resource estimation has followed a similar procedure for all Virginia and Goldcorp drill programs. The preparation procedure is in line with industry-standard methods for clastic sediment-hosted stockwork-disseminated gold deposit in an orogenic setting.

Samples are dried and crushed to better than 70 to 90% passing 2 mm. A split of the crushed material is then pulverized to 85% passing 75 µm. Gold assays were determined on a 50 g sample using fire analysis followed by an atomic absorption spectroscopy (AAS) finish. For assay results equal or above 3.0 g/t Au, samples are re-assayed with a gravimetric finish. ALS Chemex reports an upper limit of 10 g/t Au and a detection limit of 0.01 g/t for AAS analyses. No other elements are routinely assayed for.

Sample data collected adequately reflect deposit dimensions, true widths of mineralization, and the style of the deposits.

Virginia and Goldcorp maintained a quality assurance and quality control (QA/QC) program for the Project. This comprised submission of analytical standard reference materials (SRMs), duplicate and blank samples. QA/QC submission rates meet industry-accepted standards of insertion rates. No material sample biases were identified from the QA/QC programs.

 

 

Page 1-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The QA/QC program results do not indicate any problems with the analytical programs, therefore the gold analyses from the core drilling are suitable for inclusion in Mineral Resource and Mineral Reserve estimation.

Sample security has relied upon the fact that the samples were always attended or locked in the logging facility. Chain-of-custody procedures consisted of filling out sample submittal forms that were sent to the laboratory with sample shipments to make certain that all samples were received by the laboratory. Current sample storage procedures and storage areas are consistent with industry standards.

The QPs are of the opinion that the quality of the gold, copper, and silver analytical data are sufficiently reliable to support Mineral Resource and Mineral reserve estimation and that sample preparation, analysis, and security are generally performed in accordance with exploration best practices and industry standards.

 

1.9

Data Verification

A number of data verification programs and audits have been performed over the Project history, by independent consultants in support of compilation of technical reports on the Project and by Goldcorp personnel in support of mining studies. Data verification checks were performed as follows:

 

   

G.N. Lustig Consulting Ltd (2006): review of the sampling and assay data on the Project. No material biases or errors noted.

 

   

G.N. Lustig Consulting Ltd (2008): review of check assays performed by SGS Laboratories on 3,285 pulp samples originally assayed by ALS Chemex. The laboratories were considered to have satisfactory agreement.

 

   

Smee Associates (2007): QA/QC program and sampling procedures were review and observations concluded that the sampling and quality control program are running smoothly and is compliant with mineral exploration best practices.

 

   

Goldcorp (2006 to date): database validation checks. No material biases or errors noted.

The QPs consider that a reasonable level of verification has been completed, and that no material issues would have been left unidentified from the programs undertaken. The data verification programs undertaken on the data collected from the Project adequately support the geological interpretations, the analytical and database quality, and therefore support the use of the data in Mineral Resource and Mineral Reserve estimation.

 

 

Page 1-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

1.10

Metallurgical Testwork

Metallurgical testwork has included chemical analyses, acid neutralising potential tests, semi qualitative petrographic and X-ray diffraction (XRD) examinations, comminution testwork (including standard Bond tests, crushing work index (CWi) tests, abrasion index (Ai) tests and ball mill work index (BWi) tests), bench-scale flotation tests, Knelson/Laplante gravity-recoverable gold testwork, grade variability recovery testwork, establishment of a reagent suite, evaluation of intensive cyanide leach processing of flotation concentrates, cyanide leach tests on gravity tailings, cyanide detoxification testwork, settling tests, filtration tests and paste backfill tests.

Samples selected for testing were representative of the various types and styles of mineralization within the Roberto and Zone du Lac zones. Samples were selected from a range of depths within the deposit. Samples were taken to ensure that tests were performed on sufficient sample mass.

Crushing and grinding testwork was completed on three different batches by SGS Lakefield Research Limited (SGS). The samples came from the Roberto, Roberto East, and the Zone du Lac zones. The Bond ball mill work index values increased with depth from 16.7 kwh/t to 20.6 kwh/t and the abrasion index fall between the 78th and 80th percentiles compared to the SGS database at 0.466. Éléonore ore is considered moderately hard and abrasive.

Éléonore ore contains iron sulphides such as arsenopyrite. Most of the rock will have a net acid generating potential and will also leach arsenic when in contact with neutral pH water. Under these conditions, the waste rock and the process tailings will have to be managed within an engineered containment system, as required by Directive 019 from the Quebec Environment & Sustainable Development Ministry.

Overall, circuit recovery will vary with the gold feed grade, with a weighted-average recovery of 93.5% projected over the life-of-mine based on current economic assumptions.

 

1.11

Mineral Resource Estimate

Mineral Resources are based on a total of 833 core drill holes, and 337,689 assay results, collected between September 2004 and December 20, 2010. The database supporting estimation was closed as at 20 December 2010.

Geological interpretation was performed on a series of 25 m-spaced east–west cross-sections and then reconciled to 100 m-spaced level plans. Mineralized zones were

 

 

Page 1-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

interpreted based on alteration, structure and mineralization and assay results. Major lithologies and alteration style were also interpreted on the sections and plans.

The estimation block models comprise three separate GEMS software format percentage block models; a high-grade (HG) shell model, a mineralized envelope or low-grade (LG) shell model and a third separate mineralized envelope block model for dilution (ME). The interpretation consists of five different zones; Zone 50, 60, 61, 70 and 80. The numbering of the zones is from the footwall to the hanging wall. The block models use a block size of 4 m x 6 m x 5 m (easting, northing, elevation). The block size was selected based on the geometry of the ore zones and to allow for the distance between levels to be either 25 m or 30 m. The assumed mining plan for estimation purposes is based on a minimum mining width of 2.5 m, with stope size being 30 m height and 60 m maximum length.

Drill hole samples were composited inside the vein solids into equal 1 m down-hole length intervals.

Capping was applied to anomalously high gold grades before compositing for the main high-grade (HG) veins. For smaller veins, capping was not applied to assays but to the composites.

Variogram parameters obtained from Zone 50 were used for the kriging estimation of all zones, and the anisotropy was rotated to fit the orientation of each vein.

Grade estimations for gold in the HG zones were completed utilizing ordinary kriging (OK) methods.

Grade estimations for gold in the mineralized envelope were completed utilizing ordinary kriging (OK) methods. Eight lower-grade zones were defined inside the mineralized envelope. Within each zone, one or more internal high-grade veins were modeled. Small HG, all LG and ME veins, and the third pass of the main HG veins were estimated using an inverse distance to the second power (ID2) interpolation. A nearest-neighbour (NN) model was constructed as a check.

Validation of the block models and comparison with the NN model indicated no significant biases exist.

Mineral Resources were classified into Measured, Indicated and Inferred categories on the basis of drill hole density, drill hole intercept length and the penetration angle.

The following considerations were taken into account when deriving the cut-off grade to support reasonable prospects of economic extraction:

 

 

Page 1-9


LOGO

  

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

   

Considering the geometry and shape of the orebody, the Roberto deposit is amenable to underground mining using long-hole stoping methods.

 

   

Based on the pre-feasibility work an operating cost of approximately $95/t and a metallurgical recovery of 93.5% was considered reasonable.

Using a price of gold of US$1,350 per oz, the cut-off grade required to support reasonable prospects of economic extraction is approximately 3.0 g/t Au.

Mineral Resources take into account geologic, mining, processing and economic constraints, and have been confined within geological boundaries, and therefore are classified in accordance with the 2010 CIM Definition Standards for Mineral Resources and Mineral Reserves. The Qualified Person for the Mineral Resource estimate is Eric Chen, P.Geo, an employee of Goldcorp.

Mineral Resources are reported at a gold price of US $1,350/oz, are exclusive of Mineral Reserves, and have an effective date of 31 December 2011. Mineral Resources are stated in Table 1-1 using a cut-off grade of 3 g/t Au.

 

1.12

Mineral Reserve Estimate

Mineral Resources that had been classified as either Indicated or Measured were considered during conversion to Mineral Reserves. The requirements for Mineral Resources to be converted to Mineral Reserves are:

 

   

Only Measured and Indicated Mineral Resources can be included;

 

   

Dilution is included in the Mineral Reserve estimate

 

   

Mineral Reserves are supported by an economic mine plan.

The Qualified Person for the Mineral Reserve estimate is Carl Michaud Eng., an employee of Goldcorp.

Mineral Reserves are reported at a gold price of US$1,200/oz Au and an assumed exchange rate conversion of $CAN/$US of 1.1, and have an effective date of December 31, 2011.

Mineral Reserves are summarized in Table 1-2. All the Mineral Reserves are classified as Probable. The Measured Mineral Resources are located in the surface crown pillar (surface to 55 m depth). A complete study (hydrogeological and geotechnical) of the potential recovery of surface pillar will be necessary to support transfer of these Mineral Resources to Mineral Reserves.

 

 

Page 1-10


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 1-1:

Mineral Resource Estimate for the Éléonore Project, Effective Date

      

December 31, 2011, Eric Chen, P.Geo.

 

Classification Category

   Tonnage
(x 1,000)
     Au (g/t)      Cont’d  Gold
(koz)
 

Measured

     140         10.01         40   

Indicated

     1,230         11.05         440   
  

 

 

    

 

 

    

 

 

 

Total Measured and Indicated

     1,360         10.95         480   
  

 

 

    

 

 

    

 

 

 

Inferred

     12,250         10.60         4,170   
  

 

 

    

 

 

    

 

 

 

Notes to Accompany Mineral Resource Table

 

1.

Mineral Resources are reported exclusive of Mineral Reserves;

2.

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability;

3.

Mineral Resources were estimated using a price of gold of US$1,350/oz;

4.

Mineral Resources are reported using a 3 g/t Au cut-off grade, which is based on assumptions of a US$1,350/oz gold price, long-hole stoping underground mining methods, a total mining cost of $95/t, and a life-of-mine metallurgical recovery of 93.5%

5.

Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal contents;

 

  Table 1-2:

Probable Mineral Reserve Statement for the Éléonore Project, Effective Date

      

December 31, 2011, Carl Michaud Eng.

LOGO

Notes to Accompany Mineral Reserve Table:

 

1.

Mineral Reserves are estimated using a US$1,200/oz gold price, and an economic function that includes variable operating costs and metallurgical recoveries. These assume processing costs of $32.29/t mining operating costs of $52.75/t, site services costs of $10.06/t and general and administrative costs of $18.39/t for a total life-of-mine estimated operating cost of $113.49/t, and a life-of-mine average metallurgical recovery of 93–93.5%;

2.

Mineral Reserves are reported using a cut-off grade of 3.0 g/t Au;

3.

Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal contents;

4.

Tonnage and grade measurements are in metric units. Gold ounces are reported in troy ounces.

 

 

Page 1-11


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

1.13

Proposed Mine Plan

The proposed mine plan was developed by Goldcorp personnel. It is expected that any future mining operations will be able to be conducted year-round.

Long hole stoping (down-hole drilling) on longitudinal retreat with consolidated backfill (paste backfill mixed with crushed waste rock) is planned. A transverse stoping approach may be used where the mineralized lens is wider.

For mine scheduling purposes, the vertical extent of the orebody was subdivided into two parts: the upper part of the orebody located between 55 m and 650 m below surface and the lower part of the orebody located between 650 and 1,130 m below surface. Dividing the orebody into two parts will accelerate the production start-up. Initial production will be at the nominal rate of 3,500 t/d of ore, with two mining fronts on the 500 and 650 Levels. Subsequently, the 350, 860 and 1,040 Levels will be put into production. Underground drilling will start in late 2012. Studies to increase the production rate will be conducted as more drilling information becomes available. Based on the current Mineral Reserves, the planned operation has a 10-year mine life.

One shaft and one surface ramp will be excavated. The Gaumond shaft will be 715 m deep and will have a diameter of 7 m. It will be used to develop the 650 Level, to provide an exploration drilling platform for the deeper portion of the ore body and to ensure a production at a nominal rate of 3,500 t/day. The surface ramp will accelerate development on the levels. All the material that will come from levels deeper than the 650 Level will be brought to the 650 Level loading station by trucks via the ramp.

Once completed, the ramp will be used as the air exhaust. The main ventilation raise will be the Gaumond shaft. From the shaft, the air will be distributed into three ventilation raises, one located in the North zone, one in the Central zone and the third in the South zone, each of which will bring fresh air to work places. Using a conservative approach, the fresh air requirement to accommodate the mobile equipment fleet was estimated at 283 m³/s (600 kcfm) at the proposed production rate of 3,500 t/day.

Stope widths will vary between 2.5 m and 25 m. The length and the height of stopes will be 60 m and 30 m (floor to floor) respectively. Ground support will consist of various combinations of rebar bolts, mechanical rock bolt, friction bolt, screen and shotcrete depending on the requirements of the heading being driven.

Stopes will be backfilled with paste fill. On average, 160 t/h (14.6 hours/day) of paste backfill will be needed to meet the nominal production targets of 3,500 t/d from two

 

 

Page 1-12


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

mining fronts. Backfill requirements and setting times for fill strengths have been appropriately determined.

One loading system will be built on the 690 Level. Mine production will be hauled using 55 t trucks from the ore/waste pass to the loading station located on the 650 Level. The rock will be directly loaded from the ore/waste passes into haulage trucks and then dumped into a grizzly (fitted with 406 mm (16 in.) square openings) located over the storage bins. A rock-breaking arrangement will be located over the bins to break oversized rock. The ore bin and the waste bin will each have a capacity of 5,000 t. The bins will feed the rock unto a conveyor that will transport it to the measuring loading box. At that point, the rock will be automatically loaded into the skip. The skip capacity of the shaft will be 10 t.

Currently, no mining is planned above 55 m in order to mitigate risks associated with potential water inflow from the Opinaca reservoir and to respect the preliminary recommendation for the dimensions of the surface crown pillar. Due to the presence of open sub-horizontal decompression joints encountered mainly within the first 150 m below surface, and the proximity of the reservoir, management of ground water infiltration is considered paramount for the successful Project implementation. A 240 L/s (3,800 US gpm) dewatering system was selected to handle the expected peak water inflow into the mine.

A fully-mechanized mining equipment fleet is planned. Equipment will include scoop trams, dump trucks, mine service and personnel vehicles, jumbo drills, bolting platforms, scissor lifts, land cruiser and forklifts.

The mine and fleet designs are appropriate for the Mineral Reserves defined and the selected throughput rate.

There is potential for additional mine life, and potentially increases in throughput rate, if some or all of the Inferred Mineral Resources identified within the LOM production plan can be upgraded to higher confidence Mineral Resource categories, and eventually to Mineral Reserves. Mineralization remains open at depth, with the deepest drill hole encountering mineralization at 1,400 m depth; the current mine plan extends to 1,130 m depth.

 

1.14

Future Development Strategy

The Gaumond exploration shaft has a nominal 3,500 t/d ore-hoisting capacity, and a maximum hoisting capacity of 5,800 t/d. Goldcorp are planning a second, production, shaft at Éléonore, which will also have a nominal 3,500 t/d ore-hoisting capacity, giving the Project a combined nominal ore-hoist capacity, when the shafts are completed, of

 

 

Page 1-13


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

7,000 t/d. The current plant is designed for a throughput of 3,500 t/d, which is commensurate with the current Mineral Reserves; however, Goldcorp has designed the plant to be able to expand to 7,000 t/d to match the two-shaft nominal hoisting capacity.

The corporate strategy is therefore to initiate underground drilling from the Gaumond exploration shaft and exploration ramp, with the intent of delineating sufficient additional mineralization that can support Mineral Resource estimation and eventual declaration of Mineral Reserves so that the hoisting and plant capacity can be fully utilized, and the current mine life can be maintained, or even extended.

 

1.15

Proposed Process Plan

The mill was designed to operate at 3,500 t/d (1.28 Mt/year) and 365 days/year, and can be expanded to 7,000 t/d.

The comminution circuit will consist of three stages of crushing followed by a single stage ball mill grinding. The primary crushers (jaw crusher), the secondary crusher (standard cone crusher) and the tertiary crushers will be located at surface. Two short head cone crushers will be needed to handle a 7,000 t/d daily throughput. The fine-crushed ore will be ground using a single stage ball mill connected in a closed circuit with cyclones. A portion of the cyclones underflow will be directed to a gravity concentration circuit consisting of a Knelson concentrator and an Acacia Reactor to recover liberated native gold.

The cyclones overflow (grinding circuit product) will be directed to the flotation cells to separate the sulphides into a low mass sulphur concentrate. A thickener will control the density of the flotation tail slurry. The concentrate will be leached with cyanide for 36 hours while going through five leach tanks. The flotation concentrate will be thickened and reground so that 80% (P80) is smaller than 10 mm using a fine grinding mill; then it will be leached with cyanide for 48 hours in five additional leach tanks. The gold in solution will be recovered in carousel carbon-in-pulp (CIP) circuits (one for each leach circuit).

The carbon from each CIP circuit will be stripped as required in Zadra Process, and the gold recovered from that final stage of the mineral processing circuit will be poured into gold bars at regular intervals. The carbon will be regenerated and returned to the CIP circuits for reuse.

The tails from each leaching circuit will be detoxified in a conventional cyanide destruction circuit (SO2/Air), and then filtered. Finally, tailings will either be added to

 

 

Page 1-14


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

the paste backfill or stored in a covered shed before being transported to the tailings management facility.

The tailings facilities will be completely lined, and all water touching the tailings will be collected and treated. There will be minimal surface of tailings exposed, as the choice of filtered tailings allows for progressive reclamation. The tailings design envisages storage capacity of 26 Mt. This is sufficient for the current life-of-mine.

In the opinion of the QPs, the process design is based on a conventional gold plant flowsheet. Reagents, power and consumable requirements have been appropriately estimated and are included in the project operating costs.

 

1.16

Infrastructure Considerations

The project will require construction of significant infrastructure to support the planned producing facilities, which will include Project access, electrical power supply, provision of water, and mine and plant facilities.

 

1.16.1

Access Road

An access road will be necessary to ensure vehicular access between the project site and the existing road network. The road will originate at Hydro Quebec’s OA-1 dyke road extremity and terminate at the campsite located towards the west. The road will have a total length of 62 km. Permits for construction have been received, and road completion is expected by the end of 2012.

 

1.16.2

Airstrip

The landing airstrip is located approximately 2.5 kilometres north of the camp site and is accessible via an access road between the campsite and parking area. It is proposed to install a building to accommodate travellers, airstrip operations personnel and navigational control equipment at the airstrip. Petroleum installations will also be installed in the parking area.

Employees will have air-access only using a DASH8-100 (37 passengers) on daily basis. The airstrip is 1080 m long, and constructed as a Type 2C airstrip. The departure points are Rouyn-Noranda, Chibougamau, Wemindji and Montreal.

 

 

Page 1-15


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

1.16.3

Power Supply

The Éléonore mining operations and processing plant will be fed through a 120 kV overhead electrical power line supplied and installed by Hydro-Québec from the existing distribution point at the Eastmain power generation substation. . Permits for construction have been received, and Opinaca’s permanent 120/25 kV substation completion is expected by the mid of 2012.

 

1.16.4

Water

The drinking water supply for the site will be drawn from three wells. The wells’ capacity is of the order of 220 m3/day which is adequate to supply a crew of 600 workers given a unit consumption of 330 litres/person/day (198 m3/day).

Wastewater treatment for the industrial site and the campsite will be performed at the same treatment plant. The water treatment plant will include the water treatment system, pumps and all the collection basins required to store and manage the site run-off water and the mine water. There are four types of effluents that will require treatment:

 

   

Mine water : water from the underground mine;

 

   

Process water : water purges from the mineral processing plant;

 

   

Tailing area run-off water: water from the tailing management facility.

 

   

Industrial zone run-off: run-off water from the industrial area of the site.

 

1.16.5

Fuel

For fuel storage and services, three different installation points have been selected. It is important to note that there will be daily fuel tanks at each campsite building with an emergency generator:

 

   

The airstrip;

 

   

The depot (mine site);

 

   

The fuel station.

 

1.16.6

Infrastructures

Underground infrastructure will comprise a circular shaft of 715 m deep, a 4.5 km-long access ramp, shaft loading station, ore and waste passes, ore and waste storage bins,

 

 

Page 1-16


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

a rock breaker/grizzly arrangement, a transfer drift, exhaust raise, and mine dewatering system.

Plant infrastructure will consist of a jaw crusher, secondary cone crusher, tertiary crusher, single-stage ball mill, cyclones, Knelson concentrator, Acacia reactor, flotation and leach tanks, carousel CIP circuits, Zadra stripping circuit, and refinery.

Surface infrastructure will include airport terminal and gatehouse, concrete plant, main camp, administration building, services garage for surface and mine, warehouse facilities, assay laboratory, process and water treatment plants, fuel and propane storage areas, the Gaumond shaft, tailings storage facility, waste rock storage area, and the surface ramp.

Workforce requirements are estimated at 600 workers to support the estimated nominal throughput of 3,500 t/d.

In the opinion of the QPs, the existing and planned infrastructure, availability of staff, the existing power, water, and communications facilities, the methods whereby goods are transported to the mine, and any planned modifications or supporting studies are well-established, or the requirements to establish such, are well understood by Goldcorp, and can support the declaration of Mineral Resources and Mineral Reserves.

 

1.17

Markets and Contracts

Goldcorp’s bullion is sold on the spot market, by marketing experts retained in-house by Goldcorp. It is expected that the same process will be used for gold produced at Éléonore.

The terms contained within the existing sales contracts are typical and consistent with standard industry practices, and are similar to contracts for the supply of doré elsewhere in the world. There is an expectation that the same style of contracts will apply to gold produced from Éléonore.

 

1.18

Capital and Operating Cost Estimates

Capital and operating cost estimates were prepared by Goldcorp staff.

Capital cost estimates were based on a combination of quotes, vendor pricing, and experiences with similar-sized operations.

 

 

Page 1-17


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Operating costs were based on estimates from first principles for major items, and included allowances or estimates for minor costs.

The capital cost estimates include direct and indirect costs. The total capital cost estimate is CAD$705 M. Sustaining capital is estimated at $169 M. The combined total capital and sustaining capital cost estimate is CAD$ 874 M.

The estimated average annual operating cost is CAD$145 M/a or $113.49/t milled.

Capital and operating costs have been appropriately estimated and are accurate within the estimate range of accuracy for a pre-feasibility study (+25%/-20% including contingency and consistent with an AACE Class 4 Estimate) and can support the financial analysis and estimation of Mineral Reserves.

 

1.19

Financial Analysis

The results of the economic analysis represent forward-looking information that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented in this report.

Forward-looking statements in this section include, but are not limited to, statements with respect to the future price of gold, the estimation of Mineral Reserves and Mineral Resources, the realization of Mineral Reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.

Additional risk can come from actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in the project parameters as plans continue to be refined, possible variations in Mineral Reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals.

The financial analysis of the project was carried out using a discounted cash flow model prepared in Microsoft Excel. The model was constructed using annual cash flows in 2012 constant dollar terms. No provisions were made for the effects of inflation or de-escalation for the value of tax losses carried forward.

 

 

Page 1-18


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Considerations used in the estimate include:

 

   

Probable Mineral Reserve totalling 12.48 Mt grading 7.55 g/t Au;

 

   

Inferred Mineral Resources were treated as “waste” in the financial evaluation. This mineralization represents upsides potential for the Éléonore Project, if some or all of the Inferred Mineral Resources identified within the LOM open pit production plan can be upgraded to higher confidence Mineral Resource categories, and eventually to Mineral Reserves;

 

   

Gold price of US$1,200/oz;

 

   

Exchange rate of 1.10 (US$:CAD$);

 

   

Tax rate of 38.6%;

 

   

A royalty payable on production from Éléonore is set at 2.20% on the first three million ounces of gold, and increases by 0.25% per million ounces thereafter, up to a maximum of 3.50%;

 

   

An annual payment related to the Cree Collaboration agreement;

 

   

The total capital cost of the Éléonore project was estimated at CAD$874 M ($705 M in direct capital costs and an additional $169 M of sustaining capital);

 

   

Operating costs were estimated at an overall unit cost of $113.49/t was estimated, which comprises $32.29/t for processing costs, including backfill and tailings treatment and transportation; $52.75/t for mining costs, $10.06/t for infrastructure and $18.39/t for G&A costs;

 

   

The gold refining charge was estimated at US$1.75/oz Au;

 

   

Bullion delivery charges were estimated at CAD$1.67/oz Au;

 

   

The financial analysis was performed assuming a 5% discount rate.

The cash flow over the life-of-mine (LOM) at a 5% discount rate was estimated at $742 M. The Éléonore Project is expected to generate an after-tax net cash flow, at a 5% discount rate (NCF) of $458 M and yield an after-tax internal rate of return (IRR) of 14.9%. The life of mine based on the current Mineral Reserves is 10 years and the payback period is four years.

Cash flow fluctuations during the LOM primarily result from fluctuations in the sustaining capital and mill head grade. Negative cash flows are projected at the end of the mine life and correspond to expected reclamation costs.

Table 1-3 summarizes the key aspects of the financial analysis.

 

 

Page 1-19


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 1-3:

Summary Cashflow analysis

LOGO

 

1.20

Sensitivity Analysis

A sensitivity analysis was carried out for the base case scenario described above to test the sensitivity of the Éléonore Project’s after tax IRR to a 15% and 30% change in gold price, average grade, operating costs and initial capital costs (Figure 1-1).

The Project is most sensitive to the gold price, and next most sensitive to gold grade. It is less sensitive to changes in capital costs and operating costs.

 

1.21

Conclusions

Based on the data collected to date, and the mining and processing assumptions detailed in this Report, the Project shows a positive set of economics at a pre-feasibility level of assessment. There is sufficient support from the results of the pre-feasibility study for Goldcorp to move to a feasibility-level assessment of the Project.

 

 

Page 1-20


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 1-1:

Sensitivity Analysis

 

LOGO

Note: Y-axis scale bar is in $ millions

 

1.22

Preliminary Development Schedule

The sinking of the Gaumond shaft is currently underway, and is projected to be completed during the first quarter of 2012. The surface ramp started in February 2011 and should be completed to the 650 Level in the third quarter of 2013. The ore/wastes passes and the ventilation raises necessary to support production are planned to be completed by the second quarter of 2014 to support a planned production start-up date in late 2014.

 

1.23

Recommendations

A two-phase exploration program is recommended to advance the Project to a level of confidence where a production decision can be made. Phase 2 will be contingent on the results of Phase 1.

The Phase 1 program will focus on continued definition and expansion of the Roberto deposit. In the upper part of the Mine (surface to 650 m), a combination of underground and surface drilling is required for a total of 22,000 m and a total expenditure of CAD$3.5 M. In the lower Mine (650 to 1,400 m), drilling will be done from the shaft and the exploration ramp. Drilling will aim at better define the mineralization at depth, and infill drilling will be completed to support the potential conversion of Inferred Mineral Resources to higher confidence categories. A total of 95,000 m of drilling for a total expenditure of CAD$12.8 M is recommended.

In parallel, exploration drilling in two areas of interest is recommended:

 

 

Page 1-21


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

   

In the HWV area, 8,000 m of surface and underground drilling is proposed for a total expenditure of CAD$1.4 M. The shear and alteration zones targeted are close to the shaft and the exploration ramp and could be accessible during mine development activities.

 

   

In the NZ area, mineralization crops out on surface and may represent a potential open pit target. A total of 10,000 m of drilling is proposed for a total expenditure of CAD$1.5 M.

The Phase 2 work program will consist of further delineation and definition drilling. Actual drill hole locations will be contingent on favourable results from the upper and lower mine drill programs, and is likely to be planned based on mining priorities defined during ongoing Project studies. This program is estimated at $15 M. In conjunction with the delineation and definition drilling, Goldcorp will complete a feasibility study on the Project. The study is estimated to cost CAD$7 M, which includes provision for geotechnical, mining, metallurgical, hydrogeological, modelling, infrastructure and ongoing environmental and baseline studies.

 

 

Page 1-22


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

2.0

INTRODUCTION

Mr Carl Michaud Eng., Mr Eric Chen P. Geo., Mr Andy Fortin Eng., Ms Maryse Belanger P.Geo, and Mr Jacques Simoneau P. Geo prepared a Technical Report (the Report) for Goldcorp Inc. (Goldcorp) on the wholly-owned Éléonore gold project (the Project) located in Quebec, Canada (Figure 2-1).

The operating entity for the Project is a wholly-owned Goldcorp subsidiary, Les Mines Opinaca Ltée (Opinaca). For the purposes of this Report, “Goldcorp” is used to refer interchangeably to the parent and subsidiary companies.

 

2.1

Terms of Reference

This Report discloses the first-time estimate of Mineral Reserves for the Project. Mineral Reserves are based on an internal pre-feasibility study performed by Goldcorp in 2010, and updated during 2011. Goldcorp will be using the Report in support of the 2012 Annual Information Form filing.

All measurement units used in this Report are metric, and currency is expressed in US dollars unless stated otherwise.

 

2.2

Qualified Persons

The following persons serve as the qualified persons for this Technical Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and in compliance with Form 43-101F1:

 

   

Carl Michaud Eng., Chief Engineer, Goldcorp-Éléonore Project

 

   

Eric Chen P. Geo., Goldcorp Geologist

 

   

Jacques Simoneau P. Geo., Exploration Manager

 

   

Andy Fortin Eng, Process and Surface Operation Manager

 

   

Ms Maryse Belanger, P. Geo., Vice President, Technical Services

 

 

Page 2-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 2-1:

Project Location Plan (2012)

 

LOGO

 

2.3

Site Visits and Scope of Personal Inspection

Mr Michaud, Mr Fortin and Mr Simoneau work full-time at the project site. This day-to-day familiarity with operations by the QPs constitutes the personal inspection requirements for NI 43-101 purposes. Mr Chen works for Goldcorp’s Technical Services division, and visited the site from June 3-10, 2009 and again from October 21-28, 2009.

 

 

Page 2-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

2.4

Effective Dates

The following cut-off dates were applied for the collection of data and information used in the preparation of this Report:

 

   

The close-out date for the database for drill data used in the Mineral Resource estimate is 20 December 2010;

 

   

The drill hole comparison of additional drill holes since the database close-out date to the geological model was undertaken in December 2011;

 

   

The effective date for the Mineral Resource estimate is December 31, 2011;

 

   

The effective date of the Mineral Reserve estimate is December 31, 2011;

 

   

The effective date for the financial analysis supporting the Mineral Reserve declaration is January 26, 2012

The overall effective date of this Report is therefore taken to be the date of the financial analysis supporting the Mineral Reserves and is January 26, 2012

Since the closeout date for the database to December 31, 2011, there has been a total of 82 surface core holes (53,532 m) completed. Of this total, 25 holes (6,369 m) were geotechnical drill holes, drilled mainly for grouting purposes along the exploration and planned production shafts.

Exploration drilling in 2011 was aimed at better defining the mineralized zones between 450 m and 800 m below surface. This drilling is continuing in 2012 and was ongoing at the report filing date. Results of the drilling appear to confirm the continuity of the geological model as interpreted.

There were no other material changes to the information between the effective date of this Report and the signature date of the Report.

 

2.5

Information Sources and References

Reports and documents listed in the References section of this Report were used to support the preparation of the Report. A key reference in the preparation of this document is the 2010 pre-feasibility study.

Specialist input from other disciplines, including legal, process, geology, geotechnical, hydrological and financial, was sought to support the preparation of the Report.

 

 

Page 2-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

2.6

Previous Technical Reports

Goldcorp has previously filed the following technical report for the Project:

Simoneau, J., Prud’homme, N., Bourassa, Y., and Couture, J-F., 2007: Mineral Resource Estimation, Éléonore Gold Project, Quebec: Technical Report prepared by SRK Consulting Inc for Goldcorp Inc., effective date 9 August 2007.

Prior to Goldcorp’s interest in the Project, Virginia Gold Mines Inc. had filed the following reports on the Project:

Cayer, A., Savard, M., Tremblay, M., Ouellet, J. F. and Archer, P., 2006, Technical Report and Recommendations, Summer and Fall 2005, Exploration Program, Éléonore Property; GM62341, 5,929 p., 144 maps

Savard, M., Ouellette, J.-F.,Technical Report and Recommendations May 2005 Drilling Program, Éléonore Property, Québec. Mines d’Or Virginia Inc. June 2005

Cayer, A., Ouellette, J.-F., Technical Report and Recommendations, June 2004 – February 2005 Exploration Program, Éléonore Property, Québec. Virginia Gold Mines, May 2005.

Cayer, A., Ouellette, J.-F., Technical Report and Recommendations, June 2003 – May 2004 Exploration Program, Éléonore Property, Québec, June 2004.

 

 

Page 2-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

3.0

RELIANCE ON OTHER EXPERTS

This section is not relevant to the Report as expert opinion was sourced from Goldcorp experts in the appropriate field as required.

 

 

Page 3-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

4.0

PROPERTY DESCRIPTION AND LOCATION

The Éléonore Project is located in the Lake Ell area, in the northeastern part of the Opinaca reservoir of the James Bay region, in the Province of Quebec, Canada. The Project is located approximately 350 km north of the town of Matagami and 825 km north of Montreal. The Project contains the Roberto gold deposit.

The Gaumond shaft is currently under construction in the northeast corner of the Project area, approximately 500 m east of the Roberto deposit. Co-ordinates of this shaft are 76º4’39” west longitude and 52º42’11” north latitude. The Roberto deposit is situated at approximately UTM Zone 18N (NAD83) 5839829 N and 427470 E.

 

4.1

Project History

Goldcorp acquired the Éléonore Project from Virginia Gold Mines Inc. (Virginia) in 2005, under a plan of arrangement. Under the agreement, shareholders of Virginia received 0.4 of a Goldcorp common share and 0.5 of a share in a new public exploration company, Virginia Mines Inc. for each issued and outstanding Virginia share.

Virginia Gold Mines Inc. was therefore 100% acquired by Goldcorp and retained the Éléonore Project.

Virginia Mines Inc. held all other assets of Virginia Gold Mines Inc., including net working capital, cash to be received prior to closing from the exercise of Virginia Gold Mines Inc. options and warrants, its non-Éléonore exploration assets, and a sliding scale 2% net smelter return royalty on the Éléonore Project.

 

4.2

Mineral Tenure

The Project comprises 369 contiguous claims (Figure 4-1) totalling 19,188 ha, forming the Éléonore Project. The claims are 100% owned by Les Mines Opinaca Ltée, an indirectly wholly-owned Goldcorp subsidiary. Claim details are included as Appendix 1. All claims are in good standing.

A block of four claims totalling 208 ha located in the central area of the property was purchased in 2011 by Goldcorp through an agreement with Wemindji Exploration. The four claims are now 100% owned by Les Mines Opinaca Ltée.

 

 

Page 4-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 4-1:

Mineral Tenure Plan

 

LOGO

 

 

Page 4-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 4-1:

Description of the Claim Blocks

 

Claim Block

   Number of
Claims
     Northing*      Easting*      Area
(ha)
 

Éléonore Main

     369         5,835,701         427,943         19,188   

Éléonore South #

     248         5,826,281         431,701         12,896   

Éléonore Southwest #

     34         5,827,724         419,201         1,768   
  

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

     651               33,852   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

*

Approximate location of the centre of the claim block in UTM NAD 83 Zone 18N

#

Properties are part of a tri=partite joint venture, managed by a third-party and not part of the Eleonore Project.

Contiguous with the Project are claims that are part of a tripartite joint venture between Eastmain Resources, Resource Azimuth, and Goldcorp, and which form the Éléonore South and Éléonore Southwest properties (refer to Figure 4-1). These 282 claims cover a total area of 14,664 ha. The properties are not considered to be part of the Éléonore Project as the properties are independent projects that are being managed by Eastmain Resources.

The perimeter of the property has not been legally surveyed. Under Quebecois law, claims in the James Bay area are map-staked. The map-designated cell coordinates constitute the legal limits of the claims. Physical claim limits can be established by surveying and positioning the map designated coordinates of the claims in the field.

Claims are valid for a two-year period and can be renewed every two years. Renewal fees are $123 per claim if renewed 60 days before the expiry date and $226 if renewed within the 60 days renewal window. In order to maintain tenure, exploration work equivalent ranging from $135 to $2500 per claims are required depending on the number of terms of renewal a claim has undergone. Table 4-2 details the work requirements per renewal period north of the 52 parallel. Work expenditures that are in excess of the amount required for the term can be transfer to other contiguous claims that are within 4.5 km from the center of the claim or can be credited toward future renewals.

 

4.3

Surface Rights

The Éléonore project is located entirely in Cree territory, or Eeyou Istchee, on Category III lands belonging to the Quebec government and subject to the Convention for the James Bay and Northern Quebec Agreement (JBNQA). Infrastructure for the mining project required the acquisition of surface leases issued by the Department of Natural Resources and Wildlife (MRNF).

 

 

Page 4-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 4-2:

Work Requirement per Renewal Period

 

Term

   Surface area of claim  
   Less than 25 ha      25 to 45 ha      More than 45 ha  

1

   $ 48       $ 120       $ 135   

2

   $ 160       $ 400       $ 450   

3

   $ 320       $ 800       $ 900   

4

   $ 480       $ 1,200       $ 1,350   

5

   $ 640       $ 1,600       $ 1,800   

6

   $ 750       $ 1,800       $ 1,800   

7 or more

   $ 1,000       $ 2,500       $ 2,500   

The leases were obtained for all infrastructure planned in the Project area (Table 4-3). They are automatically renewed by the Ministry every year.

For road infrastructure construction, an approval must be issued by the MRNF. Necessary consents have been obtained for the entire planned road network including the permanent road (# 001 160 10 000).

Quarries and sand pits needed for construction purposes require, as appropriate, an authorization without a lease (ASB), a non-exclusive lease (BNE) or an exclusive lease (BEX). As appropriate, an ASB, BNE or BEX were obtained for all pits and quarries currently in operation. A number of requests for new quarries and sand pits are being reviewed or are under application (Table 4-4).

The Project is also in the territory of the Municipality of James Bay (MBJ). The following uses are permitted:

 

   

Industry (I),

 

   

Leisure and recreation (L),

 

   

Resources (R)

 

   

Conservation (C).

A building permit must be issued by the MBJ before the start of construction. This permit was obtained in 2011 and is required to be updated annually. The update is due during the first quarter of 2012, and at the Report filing date, was under evaluation.

 

 

Page 4-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 4-3:

Surface Lease Summary Table

 

Lease Number

  

Site

   Area
(ha)
     Renewal Date  

822461 00 000

   La Sarcelle camp      13.3         2012-04-19   

000880 10 000

   Éléonore site      234.0         2011-10-01   

000020 10 000

   Airstrip      36.2         2011-06-01   

000527 10 000

   Waste rock stockpile      15.4         2011-06-01   

822018 00 000

   Communication tower      0.25         2011-06-01   

000815 10 000

   Power magazines      5.3         2011-10-01   

001171 10 000

   Tailings management facility      111.2         2012-02-01   

001173 10 000

   Clay stockpile      8.5         2012-02-01   

001174 10 000

   Peat moss stockpile      14.3         2012-02-01   

 

  Table 4-4:

Quarry and sand pits

 

Quarry and Sand Pit Names

  

Type of Lease

   Lease Number      Renewal Date  

Sablière A-01

   MRNF ASB      ASB 5323         2013-02-28   

Sablière A-09

   MRNF ASB      ASB 5281         2012-10-13   

Sablière A-10

   MRNF ASB      ASB 5283         2012-11-26   

Sablière R-30-A

   MRNF ASB      ASB 5308         2013-02-09   

Sablière R-30-B

   MRNF ASB      ASB 5326         2013-04-30   

Sablière R-34-A

   MRNF ASB      ASB 5287         2012-12-17   

Sablière R-36-B

   MRNF ASB      ASB 5324         2013-04-30   

Sablière R-36-C

   MRNF ASB      ASB 5289         2012-12-17   

Sablière R-38-B

   MRNF ASB      ASB 5322         2013-02-28   

Sablière R-40

   MRNF ASB      ASB 5288         2012-12-17   

Sablière R-44

   MRNF ASB      ASB 5325         2013-04-30   

Sablière DG-R25

   MRNF ASB      Under study   

Carrière C-01

   MRNF ASB      ASB 5332         2013-03-31   

Carrière C-05

   MRNF BEX      BEX 1097         2017-01-09   

Carrière C-02

   MRNF BEX   

 

Under study

  

Carrière C-04

   MRNF BEX   

Carrière C-07

   MRNF BEX   

Carrière C-11

   MRNF BEX   

 

 

Page 4-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

4.4

Royalties

A royalty is payable to Virginia Mines Inc. The amount is calculated as a percentage based on mine production and gold price (Table 4-5).

An example of the royalty calculation is:

 

   

Mine production of 5,250,000 gold ounces would require payment of a 2.75% royalty based on production, being 2% on the first 3 Moz of gold produced, then successive 0.25% interest payments on each next 1 Moz of gold produced, i.e. 2% + 0.25% + 0.25% + 0.25% = 2.75%

 

   

And assuming the ounces were sold at a gold price of US$670/oz, then the final total royalty would be 3.025% (2.75% + (2.75 x 0.1)).

The percentage maximum of royalties is fixed at 3.5%. Advance payment of royalties to Virginia Mines Inc. of $US100,000 per month commenced 1 April, 2009.

 

4.5

Agreements

Goldcorp have entered into a confidential agreement with the Cree Nation termed the Cree Collaboration agreement. Under this agreement, an annual payment is made. The QPs have reviewed the agreement and there are no terms in the agreement that would have a negative impact on the Project. The annual payment is incorporated into the Project financial model.

 

4.6

Permits

Permitting Current status of the Project and the kinds of permits likely to be required to support project development are discussed in Section 20.

 

4.7

Environment

The current status of the environmental project, community consultation studies, current and proposed environmental studies and environmental permitting are discussed in Section 20.

 

4.8

Social Licence

The social licence environment for the Project is discussed in Section 20.

 

 

Page 4-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 4-5:

Royalties Payable, Based on Production and Gold Price

 

Percentage Calculated According to Mine Production

Percentage

   

Number of Gold Ounces Produced

  +2.00   On first 3 Moz of gold
  +0.25   On ounces produced between 3 Moz and 4 Moz of gold
  +0.25   On each additional 1 Moz of gold
Percentage Adjustment Based on Market Gold Price

Percentage

   

Gold price

  -10   If £$US35 /oz Au
  -5   If >$US350/oz Au but £$US400/oz Au
  0   If >$US400/oz Au but £$US450/oz Au
  +5   If >$US450/oz Au but £$US450/oz Au
  +10   If >$US500/oz Au

 

4.9

Comment on Section 4

In the opinion of the QPs the following interpretations and conclusions are appropriate:

 

   

Goldcorp holds 100% of the Éléonore Project. The Project comprises 369 contiguous claims totalling 19,188 ha;

 

   

Additional ground in the Éléonore South and Éléonore Southwest properties is held under joint venture, and because the joint venture is managed by a third-party, the properties are not considered to be part of the Éléonore Project;

 

   

Surface rights are held by Les Mines Opinaca;

 

   

A sliding-scale royalty is payable to Virginia Mines Inc., and is capped at 3.75%. Advance royalty payments commenced in April 2009;

 

   

An annual payment is required to the Cree Nation under the Cree Collaboration agreement; this payment is included in the Project financial model;

 

   

Permits obtained by the company to explore and undertake project development are sufficient to ensure that activities are conducted within the regulatory framework required by the local, Provincial, and Federal governments.

 

 

Page 4-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

5.0

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

 

5.1

Accessibility

The closest towns to the Éléonore Project are Matagami and Chibougamau which are both located approximately 350 km to the south.

Currently, there is no permanent road access to the Éléonore Project. A winter road, which is functional between January and early April, links the property to Hydro-Quebec’s Sarcelle facility. Sarcelle can be reached via a 40 km-long gravel road which starts at the 396 km marker off the James Bay Highway.

Workers are mobilized on site via a temporary year-round air strip located approximately 1.5 km north of the exploration camp. The airstrip can accommodate planes capable of transporting up to 30 people, such as a Dash 8-100.

During the summer months, fuel and equipment are transported by barge, floatplane or helicopter. The helicopter is stationed permanently on site. The barge can usually transport as many as 180 45-gallon drums of fuel per trip.

Currently the permanent road from the Sarcelle facility is under construction. Two permanent bridges are completed. The permanent road should be completed during the summer of 2012 and will be approximately 70 km long.

 

5.2

Climate

The climate is typical of Northern Canada and is a temperate to sub-arctic climate. Average summer temperatures between June and September vary between 10°C and 25°C during the day and 5°C and 15°C at night. Winters can be fairly cold with temperatures varying between -60°C and -10°C.

Precipitation varies throughout the year, reaching an average of two meters annually.

Exploration activities are currently conducted year-round, but can be temporarily halted during spring thaw and fall freeze-up. Mining activities are expected to be conducted year-round.

 

5.3

Local Resources and Infrastructure

Matagami and Chibougamau offer extensive community, health, and transportation services. Matagami is located on the James Bay Highway.

 

 

Page 5-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The James Bay area is surrounded by extensive hydroelectric facilities and associated infrastructure, the closest of which are the Sarcelle hydro electric facility located 40 km due west of the Project site on the Opinaca reservoir and the Eastmain Dam located 70 km to the south.

Currently the site has the following infrastructure available:

 

   

Airport with an illuminated runway

 

   

The Gaumond shaft (currently sinking)

 

   

A surface ramp (in excavation)

 

   

Shaft and ramp offices

 

   

Garage

 

   

Accommodation camp of 23 buildings (416 rooms)

 

   

Cafeteria

Figure 5-1 is an aerial view of the current campsite and mine development area. The planned infrastructure to support mining operations is discussed in Section 18.

 

5.4

Physiography

The physiography of the region is typical of the Canadian Shield and includes many lakes, swamps and rivers. Outcrop is limited, due to the presence of the swamps and overlying glacial deposits.

The area is characterized by a gently undulating peneplain relief. The elevation of the few hills of this rolling landscape varies between 215 m and a maximum of 300 m above sea level. The area is drained by Lake Ell, which is itself part of the Opinaca reservoir.

Vegetation is typical of taiga and includes sparse spruce forests separated by large swampy areas devoid of trees. The entire area was burned by forest fires a few years ago.

 

 

Page 5-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 5-1:

Air photograph of the Éléonore Camp

 

LOGO

Note: Photograph dated winter 2011

 

5.5

Comment on Section 5

The QPs have reviewed the information and have concluded that:

 

   

Access is currently via aircraft, with supplies either barged in during the open water season, or trucked in via a seasonal ice road, but a permanent road should be available by approximately summer 2012.

 

   

Exploration activities are currently conducted year-round, but can be temporarily halted during spring thaw and fall freeze-up. Mining activities are expected to be able to be conducted year-round.

 

   

In the immediate vicinity of the known Project deposits, and within the Goldcorp ground holdings, there is sufficient area to support construction of a mining operation, including sufficient space for an underground mine, process facilities, mining-related facilities such as workshops, offices and roads, and tailings and waste facilities.

 

 

Page 5-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

6.0

HISTORY

The first recorded exploration in the Éléonore area was by Noranda, in 1964. Noranda identified a copper showing located within the Ell Lake diorite intrusion; this showing is located approximately 6 km southwest of the Roberto deposit.

In 2001, Virginia completed regional reconnaissance grab and channel sampling around Noranda’s Ell Lake copper showing; this work identified a number of new showings. A series of mineralization corridors consisting of stockworked gold and chalcopyrite-bearing quartz veinlets were outlined within dioritic to tonalitic intrusions. In addition, a number of mineralized and partially-rounded erratic blocks, located about 300 m from the mineralized corridors returned significantly elevated copper, gold, and silver values.

Ground magnetic and inverse polarization (IP)/resistivity geophysical surveys were completed in 2002 and resulted in the discovery of several new Au-Cu-Ag occurrences in the diorite intrusion. During the program, an intensely-altered boulder of quartzo-feldspathic metasediments with disseminated arsenopyrite and pyrrhotite was identified. Subsequent investigation of this boulder and the glacial train in the area indicated that the source area was located a few kilometres to the northeast along the contact zone between the diorite intrusion and a cluster of quartzo-feldspathic sediments lying directly north of the intrusion.

Additional ground geophysical surveys, including IP/resistivity (94 line km), magnetics (81 line km) and Hummingbird electromagnetic (HEM; 26 line km) were performed on 200 m spaced lines during 2003–2004. A soil geochemical Modified Mercalli Intensities (MMI) survey (949 samples) was also conducted.

In late 2003, prospecting and reconnaissance mapping were completed ahead of mechanical trenching. The trenches were excavated to test geological, geophysical, and geochemical targets. Grab and channel sampling of the trenches indicated anomalous gold values of over 1 g/t. The first two samples of the Roberto zone (#809786 and #809785) were collected at the very end of this exploration program and gave values of 10.25 and 2.26 g/t Au. The program also identified additional gold occurrences in the diorite intrusion in the southwest portion of the grid.

A helicopter-borne, detailed magnetic survey (45 line km on two 50 m line-spaced grids) was carried out in early February 2004 over the northern half of the Ell Lake intrusion and the cluster of metasediments lying to the north.

During June–August 2004, additional trenching was performed on the Roberto zone. Virginia commenced core drilling in September 2004, and by November 2005, a total

 

 

Page 6-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

of 247 core holes (85,960 m) had been drilled on the Éléonore property. Drilling completed by Virginia Mines successfully extended the mineralization found at surface to a depth of 800 m below surface. It also extended the mineralization beyond the Roberto Peninsula into the Bay Area and on the north shore of the Ell Lake as well as to the south.

In addition, during 2004–2005, a total of 125.5 km of grid lines were cut on the land while a further 127 km of grid was added to the Ell Lake grid system. This work was followed by an IP survey that covered a total of 226.3 line km.

In 2005, a large B-horizon survey encompassing a good portion of the property was completed. A total of 1,244 samples were taken at a spacing of 50 m along lines spaced between 500 m and 1,000 m.

An in-principle agreement to acquire the Project was reached between Goldcorp and Virginia Mines in November 2005 followed by a buyout offer shortly thereafter. Goldcorp took control of the Éléonore property on March 31, 2006.

Since acquisition, Goldcorp has performed till sampling, lake-bottom sediment sampling, surface mapping and trenching, additional core drilling, Mineral Resource estimation and geological modeling. Mine construction activities are underway.

 

 

Page 6-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

7.0

GEOLOGICAL SETTING AND MINERALIZATION

 

7.1

Regional Geology

The Roberto deposit is located in Archaean rocks of the Superior Province of Canada in the transition zone between the Opinaca Sub-province and the La Grande Sub-province (Figure 7-1). The contact between the two sub-provinces is not well known and generally corresponds to regional-scale deformation zones and a sharp change in the metamorphic gradient. In some areas, the contact is masked by late intrusions of one or the other sub-province (Bandyayera and al, 2010).

The Opinaca Sub-province basin is a sedimentary basin dominated by migmatized paragneisses and diatexites from the Laguiche Complex and intruded by syn to post-tectonic tonalite, granodiorite, granite and pegmatite intrusions from the Janin and Boyd intrusive suites. The metamorphic grade increases from amphibolites facies near the margins to granulite facies toward the center of the basin (Moukhsil et al., 2003). The paragneisses are strongly metamorphosed and folded rocks which retained few of their original structures (Bandyayera and al, 2010). Unit ages vary between 2,844 Ma, similar to the La Grande basement rock ages, and 2,672 Ma and 2,647 Ma corresponding to paragneiss fusion episodes (Goutier et al., 2002; David et al., in preparation).

The “S-shaped” La Grande Sub-province surrounds the Opinaca Sub-province on its west and north sides, spanning a distance of 450 km in the east-west direction and of 250 km in the north-south direction. The La Grande Sub-Province is an assemblage of volcano-plutonic rocks composed of 85% intrusive rocks and 15% volcano-sedimentary units, the latest forming the volcano–sedimentary units of the La Grande River and Eastmain River green belts (Gouthier et al., 2001; Hocq, 1994). These assemblages overlay an older tonalitic basement (2.79 to 3.39 Ga). Metamorphic grade increases from the greenschist facies to the amphibolites facies toward the contact with the Opinaca Sub-Province (Gauthier and Larocque, 1998; Moukhsil, 2000).

The Project area is overlain by rocks of the Eastmain Group of the La Grande Sub-province (Figure 7-2). At its base the Eastmain Group consists of the Bernou (2,722 Ma) and Kasak (2,704 Ma) Formations, which are composed of basalts and intermediate to felsic tuff (Moukhsil et al., 2003; Bandyayera et al., 2010).

Discordantly overlying these two formations are the Pilipas and Low Formations, consisting of conglomerate, greywacke and wacke. This volcano–metasedimentary sequence is intruded by synvolcanic and syn to late-tectonic tonalite, granodiorite and diorite intrusions.

 

 

Page 7-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

 

 

  Figure 7-1:

Geology of the La Grande and Opinaca Sub-Provinces and Volcano–Sedimentary Belts (2011)

 

LOGO

 

 

 

Project No.:

  Page 7-2  


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

 

 

  Figure 7-2:

Project Geology Map (2011)

 

LOGO

Note: Vortex showing indicated on plan is on ground that is not held by Goldcorp. Thick black solid lines indicate Goldcorp tenure boundaries. The small tenure square in the centre of the figure was acquired by Goldcorp during 2011 and is now part of the Goldcorp Éléonore project.

 

 

Page 7-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Some intrusions dated between 2,709-2,704 Ma could be synvolcanic intrusions with the Kasak Formation while others in the 2,710-2,769 Ma range are considered syn-tectonic intrusions (Moukhsil et al., 2003; Bandyayera et al., 2010).

Regional faults are mainly present in the La Grande Sub-province and are oriented north–south, east–west, northwest–southeast, and northwest–southeast. In outcrop, the faults can be recognized by either a strong tectonic banding or by the presence of intense shear zones with mylonitization. In the Opinaca Sub-province, faults and shear zones are mainly located along fold limbs.

Outcrop within the two sub-province areas has been extensively eroded by repeated glaciations.

 

7.2

Local Geology

The Éléonore property straddles the contact between the Opinaca and the La Grande Sub-provinces (refer to Figure 7-2). The contact is located in the northeast corner of the property along a northwesterly trend that is defined by a strong shear zone, a change in the magnetic grain, and an increase in the metamorphic gradient (Bandyayera et al, 2010).

 

7.2.1

Metasedimentary Units

Rock units from the Opinaca Sub-province occur in the northeastern corner of the Project. Lithologies are dominated by granite, granodiorites and heterogeneous assemblages of pegmatites, tonalites and granites from the Janin Intrusive Suite intermixed with partially migmatized paragneiss from the Laguiche Complex. The structural grain is oriented in a northwesterly direction evolving to an east–west grain toward the east part of the Project area.

The La Grande Sub-Province rock units make up most of the Project area west of the contact between the sub-provinces and host the Roberto deposit. Lithologies are dominated by metasedimentary units of the Low Formation. Various types of conglomerates, either clast-supported or matrix-supported with monomictic to polymictic clast composition, make up the base of the Low Formation and can reach significant thicknesses. The units form large outcrops along the west side of the property border.

Massive, finely- to thickly-bedded greywacke, greywacke that contains aluminosilicate porphyroblasts, conglomeratic greywacke, conglomerates, local arenites, mudstone and cherty units make up the upper part of the Low Formation. Immediately outside

 

 

Page 7-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

the western Project limits, rock units consist of basalts and intercalated intermediate to felsic tuff units attributed to the Kasak Formation. The Low Formation is interpreted to be in discordant contact with the Kasak Formation.

 

7.2.2

Intrusive Units

The crescent-shaped Ell Lake diorite intrusion is 10 km long and occupies the centre of the Project. Few observations of the contact between the Ell Lake diorite intrusion and the Low Formation have been recorded.

Asimwakw pegmatites, as named by Bandyayera in 2010, intrude the metasedimentary units and dominate topographic highs. The pegmatites generally have a northeasterly trend that does not appear to be solely the results of preferential erosion during periods of glaciation.

Large granodiorite, granite and pegmatite intrusive units are located on the southeastern side of the property. The Uskawasis pluton, consisting of monzonite, granite and granodiorite is located just south of the property boundary.

Proterozoic diabase dykes that have a northeasterly orientation transect the property.

 

7.2.3

Structure

Metasedimentary units appear to form an open fold with a northeasterly-trending axis. A large mylonitic high strain zone that also trends to the northeast roughly follows this fold axis. A large northwest-trending, sub-vertical regional fault, observed both in drill core and in outcrop, is located just east of the Roberto deposit. A 1 km dextral displacement is interpreted for this fault from magnetic data. The magnetics also indicate the presence of a number of additional faults within the Project boundaries.

Rock units in the Project area have been deformed by three deformation phases, D2 being the principal phase, and forming a penetrative regional foliation. This deformation is expressed differently in the two sub-provinces, being regular with an east–west trend of domes and basins in the Opinaca Sub-province (Remick, 1977) and with volcano-sedimentary units deformed around the resistant intrusions in the La Grande Sub-province. A strong east–west to northwest–southeast schistosity and a mineral foliation in intrusive rocks is visible in the La Grande units.

Deformation D1 is more visible in the volcano–sedimentary units of the La Grande Sub-province and expressed by P1 folds with a north–northeast–south–southwest axis. The folds are locally refolded by D2 folds with northwest–southeast axes. In the

 

 

Page 7-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Opinaca Sub-province units, this deformation is faint and expressed by mineral lineations.

D3 deformation is discrete in both sub-provinces and appears as folding of S2 and as crenulation cleavages.

 

7.3

Roberto Deposit

The Roberto deposit has historically been divided into the Roberto, Roberto East, Zone du Lac, North and Hangingwall Zones. This nomenclature is based on their geographical location and main alterations observed. All these zones are made up of many individual mineralized lenses.

The host rock of the mineralized zones is typically a thinly-bedded (approximately 10 cm beds) greywacke near the contact with a massive greywacke unit, and locally, with a thin conglomerate unit (Figure 7-3). A section through the deposit showing the geology and mineralized zones (displayed in red) is presented in Figure 7-4. The steeply east-dipping Roberto East fault, marked by a thin black tourmaline marker band, forms the eastern limit of the mineralized vein cluster.

The structural hanging wall of the mineralized zones is characterized by a greywacke containing centimetre-scale aluminosilicate porphyroblasts overlain by a thin conglomerate unit. The aluminosilicate-bearing greywacke and the conglomerate appear tightly folded with axis generally oriented in the east–west direction and refolded by the F2 event. This folding is in sharp contrast with the generally north–south-trending bedding in the mineralized zones. The structural footwall of the mineralized zones is characterized by greywacke, locally exhibiting a higher metamorphic grade, which contains a higher amount of pegmatite dykes and quartz veins.

The mineralized zones consist of a stockwork of gold-bearing quartz–dravite–arsenopyrite veinlets, contained within quartz–microcline–biotite–dravite–arsenopyrite–pyrrhotite auriferous replacement zones (Ravenelle et al, 2010). Mineralization shows variable proportions of disseminated arsenopyrite and pyrrhotite. Traces of pyrite, sphalerite, bornite, and chalcopyrite are also present locally.

The mineralized zones are visually recognizable. They are light to dark brown in colour due to microcline and tourmaline alterations, with generally abundant sulphide concentrations. These darker colours differentiate the mineralized zones because the wall rocks are usually light to medium-grey colour and have a low sulphide content.

 

 

Page 7-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 7-3:

Geology Map of the Roberto Deposit (2010)

 

LOGO

 

 

Page 7-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 7-4:

Roberto Deposit Section View, Looking North (2010). Vein envelopes are based on drilled thicknesses.

 

LOGO

 

 

Page 7-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The sulphide concentration within the mineralized zones varies between 1% and 5%, and primarily consists of arsenopyrite, pyrrhotite and pyrite. The “waste” rock may contain sulphides, usually pyrrhotite, but this is in lesser amounts, from trace to 2%, and occurs mostly in the structural hanging wall.

The mineralized zones are generally 5 m to 6 m in true thickness, varying between 2 m and more than 20 m locally. Mineralization is considered to pre-date the final deformation phase (Ravenelle, 2010).

The mineralized zones are folded with increased thicknesses in the hinge of the folds while limbs are fairly straight and continuous. Transposition of the sedimentary beds post-mineralization may also explain some of the thickening of the mineralized zones.

The Roberto gold zones dip steeply to the east and rake (plunge) steeply to the northeast. All zones remain open at depth and along strike.

 

7.4

Exploration Targets

Outside the Roberto deposit area, exploration is being undertaken on the Old Camp showing located in the Project area, 5 km west of the Roberto deposit (refer to Figure 7-3). In this location, shear zones that have associated quartz–tourmaline veins and contain pyrite, arsenopyrite and chalcopyrite are located in the Ell lake diorite near the contact with the metasedimentary units. Grab samples have returned anomalous high-grade gold values. Similar gold values and settings are observed on the east side of the Ell Lake intrusion.

 

7.5

Comments on Section 7

In the opinion of the QPs, knowledge of the deposit settings, lithologies, and structural and alteration controls on mineralization is sufficient to support Mineral Resource and Mineral Reserve estimation. The mineralization style and setting of the Project deposit is sufficiently well understood to support Mineral Resource and Mineral Reserve estimation.

 

 

Page 7-9


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

8.0

DEPOSIT TYPES

The Roberto deposit is considered to have many aspects in common with classic greenstone-hosted quartz–carbonate vein deposits, but represents a clastic sediment-hosted stockwork-disseminated end member. Canadian end-member examples of greenstone and clastic-hosted quartz–carbonate vein deposits include Pamour and Timmins.

The following description is based on Dubé and Gosselin (2007).

Greenstone-hosted quartz–carbonate vein deposits, are a subtype of lode gold deposits, and are defined as structurally controlled, complex epigenetic deposits that are hosted in deformed and metamorphosed terranes. They are distributed along major compressional to trans-tensional crustal-scale fault zones in deformed greenstone terranes of all ages, but are more abundant and significant, in terms of total gold content, in Archaean terranes.

Although dominantly hosted by mafic metamorphic rocks of greenschist to locally lower amphibolite facies, deposits can be hosted in metamorphosed sediments.

Greenstone-hosted quartz-carbonate vein deposits are typically associated with iron-carbonate alteration. The relative timing of mineralization is syn- to late-deformation and typically post-peak greenschist-facies or syn-peak amphibolite-facies metamorphism.

Deposits consist of simple to complex networks and arrays of gold-bearing, laminated quartz–carbonate fault-fill veins in moderately to steeply dipping, compressional brittle–ductile shear zones and faults, with locally associated extensional veins and hydrothermal breccias. Individual vein thickness varies from a few centimetres up to 5 metres, and their length varies from 10 up to 1000 m. The vertical extent of the known deposits is commonly greater than 1 km and may reach as much as 2.5 km.

Gold is mainly confined to the quartz-carbonate vein networks but may also be present in significant amounts within iron-rich sulphidised wall rock. The sulphide minerals typically constitute less than 5 to 10% of the volume of the mineralized zones. The main minerals are native gold with, in decreasing amounts, pyrite, pyrrhotite, and chalcopyrite and occur without any significant vertical mineral zoning. Arsenopyrite commonly represents the main sulphide mineral in clastic-hosted deposits. The Au/Ag ratio typically varies from 5 to 10.

 

 

Page 8-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

8.1

Comment on Section 8

The Roberto deposit is the first example of a greenstone and clastic-hosted quartz–carbonate vein deposit identified in the La Grande Sub-Province.

Features of the deposit which indicate it is part of the greenstone-hosted quartz–carbonate vein deposit continuum include:

 

   

Spatially associated with major crustal feature developed in deformed greenstone rocks; mineralization is considered to pre-date the final deformation phase;

 

   

Associated with large, district-scale carbonate alteration;

 

   

Gold mineralization hosted in laminated fault-fill quartz–carbonate veins of varying thicknesses;

 

   

Association of gold with arsenopyrite, pyrrhotite and pyrite.

Features of the Roberto deposit which are atypical of the general greenstone-hosted quartz–carbonate vein deposit continuum include the fact that it is characterized by stockwork and replacement-style mineralization hosted in amphibolite facies turbiditic metagreywacke and paragneiss.

 

 

Page 8-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

9.0

EXPLORATION

The main focus of the exploration activities on the project have been to advance the Roberto deposit to a development decision, and therefore the greater Éléonore Project area has not been subject to significant exploration work in the last five years. However, high-quality exploration targets exist, near the Roberto deposit and also on other parts of the concession and warrant further investigation. Table 9-1 summarizes the exploration activities on the Éléonore project other than drilling.

 

9.1

Grids and Surveys

The coordinate system used for all of the exploration, drilling and support of Mineral Resources and Mineral Reserves is the Universal Transverse Mercator (UTM) coordinate system using the North American datum of 1983 (NAD 83). The UTM Zone is Zone 18 North. Data acquired prior to Goldcorp’s acquisition of the project was also in UTM coordinates, however the datum was NAD 27 and in order to be converted the following translation had to be calculated:

Conversion to NAD 83: North= +228.407m, East= +22.643m and Elevation= -4.423m

The GPS survey data are directly downloaded into the Project acQuire database.

In 2006 an air photo/LiDAR survey was completed over the property by XEOS of Quebec. The survey covered two sectors:

 

   

Sector A covered the entire Éléonore claim group, was at 60 cm resolution, and provided 4 m topographic contours;

   

Sector B covered the Roberto area, was at 25 cm resolution, and provided 1 m topographic contours.

In 2008, an air photo survey was conducted over the northern portion of the property to provide better topographic information for infrastructure planning. The survey was conducted by Haut-Mont during the summer of 2008.

 

 

Page 9-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 9-1:

Summary of Exploration Work Carried Out on the Éléonore Project

 

YEAR

  

TYPE

  

Survey

  

Area

  

Company

  

Amount

  

Comment/Results

2006

   Air photo       Éléonore    XEOS       Northern Area: 1 m topography contours. Property: 4 m contours
   Geophysics    VTEM    Éléonore    Geotech    3123.5 km    MAG + EM. Anomalies associated with Iron Formation. No significant anomalies associated with Roberto

2007

   Geophysics    Induced polarization    Roberto    TMC    5.7 km    Survey was completed by Geosig following year
   Trenching    Outcrop stripping    Roberto    Goldcorp       Roberto Outcrop was stripped of the overburden over an area of 400 m by 175 m, exposing the main Zones of the deposit.
   Geochemistry    Photo interpretation    Éléonore    Inlandsis       Interpretation of the glacial cover and potential dispersion trends over the property

2008

   Geophysics    Induced polarization    Roberto    Geosig    15.6 km    Strong chargeability anomaly associated with Roberto deposit
   Geochemistry    Till sampling    Éléonore    Inlandsis    496 samples    5 distinct anomalous sectors identified, for which additional work is recommended
   Air photo       Roberto    Haut-Mont       Air photo of northern part of Éléonore
   Trenching       Roberto North    Goldcorp    9 trenches    A series of trenches in the North area to help understand geological controls on mineralization

2010

   Geochemistry    Lake sediment sampling    Éléonore Nord    Inlandsis    653 samples    Northern half of the reservoir was sampled. Anomalies associated with Roberto and Old Camp.

 

9.2

Geological and Structural Mapping

Virginia performed several mapping and sampling programs from 2001 to 2005. Systematic sampling and detailed mapping in 2002 near the Ell Lake showing led to the discovery of a sulphide-bearing quartzo-feldspathic metasedimentary boulder that returned high gold values on assay. Prospecting and reconnaissance mapping successfully exposed surface outcrops of alteration zones and gold mineralization.

From the summer of 2006 to 2011, small mapping and sampling programs have been carried out by Goldcorp at 1:20,000 scale in various areas of the Project. During the period, over 1,000 outcrops have been visited and sampled by Goldcorp geologists. This work is used as exploration vectors.

 

 

Page 9-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

9.3

Geochemistry

Prior to Goldcorp’s Project interest, Virginia conducted a soil geochemistry MMI survey in 2003 that took 949 samples. Together with other exploration activities including geophysics, and trenching, the survey aimed at locate the source of the gold-bearing boulder discovered in 2002.

A till sampling survey was completed during the summer of 2008 (Figure 9-1). The survey was conducted under the supervision of Rémi Charbonneau of Inlandsis. The survey covered the entire Project area and consisted of a total of 496 samples collected at 100 m to 200 m spacing along lines distributed at every 1 km to 1.5 km. A series of 37 duplicate samples was selected for visible gold and other characteristic mineral grain counts, covering the area down-ice from the Roberto deposit.

The program outlined six exploration targets, named Sectors A to H. The highest priority targets are considered to be Sector A, which is up-ice from the Roberto deposit, and Sector B, which has two distinct dispersal trains. Sector E is the third-ranked target, located 5 km down-ice from Roberto, where the till sampling suggests the potential of gold mineralization due to the abundance of pristine-shaped visible gold grains, counts of five to 20 scheelite grains, high-grade gold results and associated Sb, Sn and Cu anomalies.

A lake-bottom sediment sampling survey was completed over the northern portion of the Opinaca reservoir during the summer of 2010 (Figure 9-2). A total of 653 samples collected with a 75 m to 100 m spacing along north–south lines distributed every 200 m to 300 m. The samples were submitted to multi-element analysis by MMI (Metal Mobile Ion) partial dissolution, followed by sensitive ICP-MS determination for 53 elements, including Au with a 0.05 ppb detection limit. The survey revealed three sectors of interest including Southeast Roberto, Old Camp and the North sector.

 

9.4

Geophysics

In 2002, Virginia performed a ground magnetic survey (33.6 line km) and an induced polarization (IP) survey (24.6 line km) over a grid covering 8 km2 in the Ell Lake area. Several IP conductors were detected.

In March 2003, a fixed-wing magnetic survey was carried out over an area of 23 km by 9.5 km, covering the contact between the Ell Lake intrusion and the Opinaca and La Grande sub-provinces. In the meantime, in order to identify the source of the gold-bearing boulder, Virginia performed a ground magnetic survey (81 line km) and IP survey (65 line km) on 200 m spaced lines on the northwest and north shores of the Ell Lake.

 

 

Page 9-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-1:

Plan Showing Till Sampling Sites (2008)

 

LOGO

 

 

Page 9-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-2:

Lake-Bottom Sediment Sampling: Anomalous Contour and Location of the Three Sector Of Interests (2010)

 

LOGO

In February 2004, a helicopter-borne, detailed magnetic survey (45 km2, 50 m line spacing) outlined more accurately the northern contact between the Ell Lake intrusion and the sub-provinces and detected a number of magnetic features suggesting alteration zones in the surrounding sediments.

In January 2005, Virginia carried out an IP survey that covered a total of 226.3 line km on the northeastern side of the Ell Lake. The survey was performed by Geosig Inc

In 2006 a helicopter-borne magnetometer and electromagnetic VTEM survey (time domain) with an in-loop configuration was flown over the entire Project. The survey was conducted by Geotech Ltd and totalled 3,123.5 line km. Line spacing was 75 m and the survey was oriented at N360 degrees. A more detailed survey was conducted over the Roberto deposit area with line spacing of 50 m, which was oriented at N90 degrees (Figure 9-3).

 

 

Page 9-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-3:

2006 VTEM survey. Plan showing surveyed lines

 

LOGO

Anomalies generated from the VTEM survey are indicated in Figure 9-4. The anomalies located inside the reservoir are large weak conductors and are interpreted to be related to the strong concentration of conductive superficial sediments found in the reservoir. The long anomalies located to the east of Roberto are interpreted to be caused by sediments, such as iron formation and or argillitic sequences that have significant sulphide concentrations. Some of the exploration drilling has targeted some of the sediment-hosted anomalies and results indicate that they do not carry significant gold mineralization.

 

 

Page 9-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-4:

2006 VTEM Survey. Plan showing the apparent resistivity at 0.96ms

 

LOGO

A surface induced polarization (IP) survey was conducted totalling some 21.3 line km between 2007 and 2008 on the Roberto deposit area (Figure 9-5). The purpose of the survey was to determine the response of the Roberto mineralization to a pole-dipole IP configuration and to verify the efficiency of this method for exploration targeting.

In order to penetrate the conductive layer of the sediments in the reservoir and the stripped area over the main orebody, the pole-dipole configuration used a 50 m separation.

 

 

Page 9-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

TMC Geophysique from Val d’Or completed the initial six lines (5.7 km) of the survey in 2007. Geosig Inc. of Quebec completed the survey in 2008, undertaking 12 lines for 15.6 km.

The survey was successful in identifying anomalies related to the Roberto mineralization (Figure 9-6) and the pole-dipole configuration with 50 m spaced electrodes is the recommended configuration future surveys.

 

9.5

Trenches

During the summer of 2001, Virginia performed channel sampling along the shoreline of the Ell Lake and identified several Au-Cu-Ag occurrences. Best results include: 382 ppb Au over 8.5 m and 359 ppb Au over 8 m. In 2002, channel sampling in the diorite intrusion identified similar occurrences: 1400 ppb Au over 1 m, 860 ppb Au over 1 m.

In 2003, the prospecting and reconnaissance mapping was followed by mechanical trenching in order to test several geological, geophysical and geochemical targets. Samples yielded anomalous to sub-economic grade gold values over metric to decametric widths (0.81 g/t Au over 37 metres and 2.42 g/t Au over 5.25 metres).

Virginia conducted a mechanical stripping program in the late summer and early fall 2004 in order to test the lateral extensions of the Roberto zone. Channel samples were taken perpendicular to the main schistosity at 10 to 20 metres intervals, across the entire ore zone and extended a few metres into the country rock. The program began on an outcrop sampled in late 2003 which had returned elevated gold values. A total of three trenches were excavated in the Roberto area.

An IP anomaly was identified in 2003, and three trenches excavated in the area in 2004 uncovered the Roberto East zone.

Regional trenches were also excavated to reproduce grab samples gold values and to test geophysical, geological and geochemical anomalies. Channel samples from 25 trenches were taken. The mineralization encountered in the trenches was later targeted by drilling.

The trenches on Roberto Island were enlarged in 2006 and 2007, creating a single exposed outcrop measuring 400 m by 100 m, oriented to the northeast.

Lithologies, alterations, veins and mineralized zones were mapped in detail during summer of 2007, improving the understanding of the distribution of the mineralized zones and the structural setting.

 

 

Page 9-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-5:

Induced Polarization Survey: Plan Showing Surveyed Lines over the Roberto Area (2008)

 

LOGO

 

  Figure 9-6:

Induced Polarization Survey: Plan Showing Chargeability and Interpreted Anomalies (2008)

 

LOGO

 

 

Page 9-9


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The outcrop was extensively sampled and assayed for gold and trace elements. Mineralized zones in the form of 3D solids interpreted from drilling data were reconciled with the surface geological interpretation.

In 2008, nine new trenches were opened in the North Area and an old Virginia Mines trench was enlarged (Figure 9-7). These trenches are smaller in scale than the Roberto Main trenches. Mapping of those trenches improved the understanding of the geological framework in the North Area of the deposit.

Mapping of lithological contacts, structures and veins was done using the same high-precision global positioning system (GPS) instrument used to locate drill hole collars, ensuring a precise map without distortion. The locations of channel samples were also measured with this GPS. All data were imported into ArcGIS software to create a final map of the deposit.

Channel samples are treated in the same way as drill core samples. They are laid into HQ-size (63.5 mm) core boxes and brought in the coreshack. The lithologies, alterations, veins and structures are recorded in detail using acQuire software, applying procedures identical to those used for drill core samples (refer to Sections 10.2 and 10.3).

Trench and channel samples are not used for mineral resource modelling purposes.

 

9.6

Theses

A PhD study funded through a Natural Sciences and Engineering Research Council (NSERC) industry grant, the Institut National de la Recheche Scientifique (INRS), the Geological Survey of Canada (GSC), Goldcorp Inc. and Virginia Mines Inc. is currently being completed by J.-F. Ravenelle.

As part of this study, a GSC publication was published in 2010 as follows:

Ravenelle, J.-F., Dubé, B., Malo, M., McNicoll, V., Nadeau, L., and Simoneau, J., 2010. Insights on the geology of the world-class Roberto gold deposit, Éléonore property, James Bay area, Quebec; Geological Survey of Canada, Current Research 2010-I, 26 p.

 

 

Page 9-10


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 9-7:

Roberto Area, Location Of Trenches Performed By Goldcorp (2008)

 

LOGO

9.7

Exploration Potential

Within the Roberto deposit, exploration potential remains at depth. Mineralization has been drill tested to 1,400 m, in the deepest drill hole to date. When completed, the Gaumond shaft will provide a drill base for additional work on the deposit at depth.

Other targets have been identified around the Roberto deposit, including the hanging wall veins (HWV) and the north low-grade zone (NLG).

The HWV are part of the alteration zones surrounding the Roberto deposit. The veins are generally small and erratic, but include alteration haloes which can range from 1 to 5 m-wide zones. Because these zones are close to infrastructure, the HWV may be a potential future source of additional mill feed for the Project if additional drilling supports Mineral Resource estimates for the veins.

 

 

Page 9-11


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The NLG is a wide alteration zone found near-surface. With additional drilling, there is also potential for this zone to support Mineral Resource estimates.

Limited exploration has been undertaken outside the immediate Roberto deposit area, and the remaining claims retain good exploration potential.

 

9.8

Comment on Section 9

In the opinion of the QPs, the exploration programs completed to date are appropriate to the style of the deposits and prospects within the Project. The exploration and research work supports the genetic and affinity interpretations.

 

 

Page 9-12


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

10.0

DRILLING

At the end of 2011, a total of 933 surface drill holes (approximately 428,948 m) have been completed by Virginia and Goldcorp. Details of the various drilling programs are summarized in Table 10.1. Drill hole collar locations for drilling completed in the Roberto area are shown in Figure 10-1 and drill holes collars on the entire property are in Figure 10-2.

Surface drilling includes 376,535 m of exploration and delineation drilling, 14,777 m of geotechnical drilling, 512 m for hydrological/water bore purposes, and 880 m metallurgical drill hole. Condemnation drilling and drilling to support the locations of planned infrastructure were completed from May 1, 2010 to October 4, 2010. This drilling totals 10,858 m. Drill hole collar locations for these drill holes are shown in Figure 10-3 to Figure 10-5.

Since the closeout date for the database, there has been a total of 82 additional surface core holes (53,532 m) completed. Of this total, 25 holes (6,369 m) were geotechnical drill holes, drilled mainly for grouting purposes along the exploration and planned production shafts.

Exploration drilling in 2011 was aimed at better defining the mineralized zones between 450 m and 800 m below surface. This drilling was ongoing at the Report filing date. Results of the drilling appear to confirm the continuity of the geological model as interpreted.

 

10.1

Virginia Drilling

Virginia launched an initial drilling campaign in September 2004. The drilling aimed at investigating the Roberto zone and continuing testing geophysical, geochemical and geological anomalies that were not explained by channel sampling or that yielded interesting results. At first, two rigs were used for that program then a third drill was called in. A total of 69 drill holes were performed in the Roberto area for a total of 17,118 m. Drilling successfully confirmed the northward extension of the zone underneath the lake. A total of 29 holes were drilled on regional targets for a total of 5,585 m. Numerous drill holes confirmed the mineralisation and alteration identified in trenches. Several drill holes failed to explain geophysical and geochemical anomalies.

The winter 2005 drilling campaign was the continuity of the drilling campaign started in the fall 2004. Three rigs were used and the objective was to test the extension of the Roberto zone at depth and to the north and south. Drilling operations were performed by Chibougamau Diamond drilling Inc. Drill log descriptions were recorded by geologists from Services Techniques Geonordic.

 

 

Page 10-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 10-1:

Drill Hole Summary Table

 

Company

  

Date

   Core Holes
Completed
     Length
(m)
 

Virginia*

   September 2004 to March 2006      329         105,537   

Opinaca

   April 2006 to December 2006      127         54,726   

Opinaca

   January 2007 to December 2007      138         76,496   

Opinaca

   January 2008 to December 2008      149         89,640   

Opinaca

   January 2009 to December 2009      21         19,773   

Opinaca

   January 2010 to December 2010      87         29,242   

Goldcorp

   January 2011 to December 2011      82         53,532   
     

 

 

    

 

 

 

Total

        933         428,945   
     

 

 

    

 

 

 

 

 

Page 10-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-1:

Drill Hole Location Plan, Exploration and Infill Drill Programs (2012)

 

LOGO

 

 

Page 10-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-2:

Regional Drill Hole Plan- Éléonore Property (2012)

 

LOGO

 

 

Page 10-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-3:

Metallurgical Drilling Collar Location Plan (2012)

 

LOGO

 

 

Page 10-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-4:

Hydrological Drilling Collar Location Plan (2012)

 

LOGO

 

 

Page 10-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-5:

Geotechnical/Condemnation Drilling Collar Location Plan (2012)

 

LOGO

A total of 53 holes (17,530 m) were drilled to test the Roberto zone, while 11 holes (2,313 m) were drilled to test IP anomalies. Drilling successfully extended the Roberto zone at depth, to the north and to the south.

During the rest of 2005, Virginia continued to drill with three to four drill rigs continuing to expand and define the orebody. An additional 70 drill holes were completed totalling some 43,365 m. Between January and March 2006, Virginia drilled a total of 96 drill holes for some 19, 627 m. These were in-fill drill holes aimed at better define the ore zones close to surface.

 

 

Page 10-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Locations of the drilling performed by Virginia were included Figure 10-1 and Figure 10.2. A cross-section showing an example of Virginia drilling is presented in Figure 10-6.

 

10.2

Drilling Methods

All core diamond drilling completed on the property consists of wireline diamond drilling recovering NQ size (47.6 mm) drill core.

Forage Chibougamau Ltée has been the sole core diamond drilling contractor since the beginning of the Project. Rig numbers used at site have varied from one to six. Geotechnical drill companies are AlXtreme, Forages Giroux, Forages SL. Inc. and Technic-Eau.

The main portion of the orebody crops out on the Roberto Peninsula and extends north under water within the Bay Area. A significant portion of the shallow areas of the orebody can only be easily accessed with drill rigs set up on ice platforms during the winter months. Numerous swamps exist and make movement between drill hole collar locations difficult during the warmer months. Helicopter-supported drilling is required during those months to minimize the environmental impact in areas where the ground is soft. Drill holes targeting the mineralized horizons deeper than 600 m below surface are generally collared on hard ground, and can be drilled year-round.

 

10.3

Field Procedures

Drill cores are placed into wooden core boxes at the drill site. The core boxes are labelled and closed with metal wire or rubber bands by the drilling contractor. An orientation device, either an Acetool or Coreint, is attached to the tube of some drill rigs. The core base is marked by the drillers, based on the tool readings. This technique allows orientation of the core in real space and provides structural measurements that represent actual ground conditions.

Drill core is retrieved at the end of every shift from each drill site either by Goldcorp employees or drill contractor personnel. Core boxes are placed onto racks located in front of the logging core shacks. To avoid mixing drill hole data, each drill rig has its own well-labelled storage racks.

 

 

Page 10-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 10-6:

Cross-section (2800N) Showing an Example of Virginia Drilling, from Technical Report and Recommendations May 2005 Drilling Program, Éléonore Property, Quebec

 

LOGO

Note: S3: Wacke; S3 Vn: Wacke with quartz vein; S3 PQ (Al-Mv): Wacke with muscovite and aluminosilicate porphyroblasts; AC: actinolite; AS: arsenopyrite; BO: biotite; MV: muscovite ; TL: tourmaline; Si+: silicification; K+: potassic alteration; CB+: carbonatisation.

 

10.4

Geological Logging

Core boxes are opened immediately upon arrival at the core shack, and the geologist responsible for that drill rig logs a summary description of the drill core (Quick Log). This information is then plotted on the corresponding drill section together with the drill hole deviation in order to facilitate tracking of drilling progress within the drill hole.

The core boxes are subsequently brought into the geotechnical core shack, where the core is correctly repositioned in the core boxes by locking the core pieces to each other. Core is then carefully measured. For boreholes on which an orientation device was used, the core is repositioned using the driller’s marks and a green line is traced indicating the bottom of the hole.

 

 

Page 10-9


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Core boxes are permanently labelled using aluminum tags that include the drill hole number, box number and the depth interval start and end points.

Once it is measured and oriented, the drill core is moved to the logging core shack, where a geologist records a detailed description of the lithologies, structures, mineralization, alteration, and veining. Logging forms have pre-defined pick lists for codification of the geological descriptions and built-in validation to minimize wrong entries. To ensure the geologists log the core samples in a consistent manner, the data entry procedures were documented and assembled into a manual. Core library and posters are available for geologists-in-training; these geologists are also tutored by a more experienced geologist until logging proficiency is attained.

After completion of the core description, the geologist is responsible for marking the samples on the core. Photos of the core for the entire drill hole length are then taken, with four boxes photographed per picture. Specific gravity measurements and point load testing are carried out before the core boxes are moved to the core-cutting facilities.

Once the core samples have been cut, the boxes containing the remaining core halved are placed in an outside permanent core rack.

 

10.5

Recovery

Core recovery and RQD is measured and calculated for each core. Core losses are recorded in the drill log. Rock units intersected by drilling are generally solid, yielding an effective core recovery of 100%.

 

10.6

Collar Surveys

Until December 2005, drill hole collars were surveyed using Garmin hand-held global positioning system (GPS) instruments, or were chained from already-completed boreholes.

In January 2006, a land surveyor was mandated to install a Trimble TSC1-V7.50 GPS fitted with differential correction from a base station located on site. Measurement precision is two centimetres, both in the horizontal and vertical axis. From that date, all new collars were surveyed using this system. Core holes drilled in 2004 and 2005 were easily resurveyed as casings were left in place, with the exception of 19 core holes that had been drilled with rigs set on lake ice during the winter of 2004 and 2005. For these, collar locations may be inaccurate by a few metres.

 

 

Page 10-10


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Procedures for drill hole collar surveys include paper tracking of final collar surveys that must be signed by the surveyor.

The location of proposed drill hole collars is assessed using a Trimble GPS and marked with a picket. Front sights are implanted at 15 m, 30 m and 55 m with the GPS and double-checked with a compass. Drilling is visually aligned using the front sights.

Upon completion of the final collar survey, the planned collar coordinates and the surveyed collar coordinates are compared and any discrepancies investigated.

 

10.7

Down-Hole Surveys

Down-hole surveying has been performed routinely on every drill hole since Project inception, using a rented FlexIt SmartTool electronic instrument.

During drilling, a single-shot test is taken approximately 15 m past the casing to determine the initial drill orientation. Following this, single-shot tests are taken approximately every 60 m to 100 m at the end of drilling shifts. If in the process of drilling the drill rods need to be removed from the bore hole, the FlexIt tool is used in multi-shot mode to conduct tests every 3 m or 6 m.

Once a drill hole is deemed complete, the FlexIt tool is used in multi-shot mode to conduct tests every 3 m or 6 m as the drill rods are being pulled. Multi-shot data are downloaded into the drill hole database and verified by the geologist. Station data that produces anomalous azimuth readings due to excessive local magnetic interference are flagged to prevent their use in plotting the drill trace. Multi-shot readings are used in favour of single-shot readings and are flagged to be used when plotting the drill trace.

The magnetic north azimuths are corrected automatically in the acQuire database to the true north azimuth using a correction of -17 degrees.

The FlexIt tool is sensitive to the magnetic properties of the rocks encountered in the drill hole. However, other than the diabase dykes, diorite and an occasional mineralized unit in the northern part of the property, rocks underlying the Roberto deposit are very weakly magnetic and do not generally affect the azimuth readings taken by the down-hole survey tools.

In 2010, a test was performed on one drill hole, DDH ELE-10-00695-M01, over a distance of 1,338 m using a north-seeking Gyro instrument with the aim of comparing

 

 

Page 10-11


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

its results with those obtained with the FlexIt tool. The results showed an overall difference of 0.25% between both surveys at a distance of 1,338 m down hole.

 

10.8

Geotechnical and Hydrological Drilling

Depending on the location of the bore holes, 15 drill holes were stockpiled for logging at a later date and the remainder were logged as per normal procedures.

 

10.9

Metallurgical Drilling

All the metallurgical core samples from drilling are identified in appendices of SGS Lakefield metallurgical test works reports. The drill samples represent the Roberto and Zone du Lac ore bodies from surface to 750 meters depth with various gold head grades, ranging from 2 to 20 g/t Au.

 

10.10

Condemnation Drilling

Drilling was undertaken on the construction site in areas where infrastructure is planned to be built to confirm the low potential for economic mineralization. These holes were logged and sampled as per normal procedures.

 

10.11

Drill Spacing

Drilling has been conducted over the Roberto deposit on a 1,500 m by 1,500 m area. The drilling pattern was designed to sample the deposit orthogonally to the interpreted strike and dip of the gold mineralization. The majority of the core holes were drilled with an inclination varying between negative 45° to -63°.

Re-modelling of the mineralization completed during 2010 identified a northwesterly trend to the mineralization in the Bay area; this was considered to explain the very strong down-hole deviation observed in some drill holes in this area.

Because of the irregular shape of the deposit at surface, core holes and drill sections are oriented from east to west direction in the Main and Bay areas, southwest to north–south in the southern limb area, and east–west to north–south in the northern limb area.

All core holes were drilled from surface on sections spaced approximately 25 m apart in most parts of the deposit. Drill hole spacing of 25 m by 25 m occurs over the bulk of the orebody to a depth of approximately 250 m below surface.

 

 

Page 10-12


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Between 250 m and 700 m below surface, borehole spacing increases to about 50 m by 50 m. Below 700 m, down to approximately 1,000 m, a core hole spacing of 100 m by 100 m is usually implemented. Only a few drill holes were drilled below 1,000 m. The deeper boreholes intersected the mineralized horizons at a depth of approximately 1,400 m below surface.

 

10.12

Drill Sample Length/True Thickness

Sample intervals are determined by the geologist logging the core. Samples do not cross geological boundaries and respect lithological, alteration, mineralization and structurally interpreted boundaries. The minimum sample length is 0.30 m and the maximum is 1.5 m in waste and 1.0 m in mineralized material.

Bore holes drilled by Virginia Mines were sampled in the interpreted mineralized zones only. Those drilled by Opinaca Mines were sampled from top to bottom. A program is currently underway to complete the sampling of the Virginia core in the most prospective mineralized areas.

True thickness interval lengths are defined as being perpendicular to the strike and dip of the mineralization at the point of bore hole intersection. It is the shortest distance between the hanging wall and the footwall points of intersection of the bore hole with respect to the strike and dip of the mineralization. Due to the irregular shape of the orebody, there is no predetermined angle for this.

 

10.13

Drill Intercepts

Typical drill hole orientations are as shown in Figure 7-4 in Section 7 of this Report.

Table 10-2 shows a selection of intersections through the low-grade envelope (which contains the high grade envelope) to illustrate typical grades within the deposit.

 

 

Page 10-13


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 10-2:

Drill Intercept Summary Table (V: Virginia; G: Goldcorp)

 

Hole ID

   Collar Information    Down Hole Information
   East    North    Elev.    Azimuth    Dip    From
(m)
   To
(m)
   Intercept
(Au g/t)
   Drilled
Length
(m)
   Area    Zone

ELE-04-00034 (V)

   426654.5    5839440.9    10217.2    273    -68.0    40.00    47.40    30.99    7.40    Main    Zone 72

ELE-05-00061 (V)

   426686.2    5839248.1    10214.9    183    -50.0    91.23    94.70    6.29    3.48    South    Zone 5830

ELE-05-00106 (V)

   426880.9    5839191.3    10213.4    183    -45.0    123.00    131.00    5.24    8.00    South    Zone 60

ELE-05-00113 (V)

   427092.2    5839456.1    10216.6    268    -58.0    543.01    546.00    41.78    2.99    Main    Zone 80

ELE-06-00162 (V)

   426614.6    5839243.3    10215.8    272    -51.0    51.75    55.00    22.06    3.25    Main    Zone 5830

ELE-06-00194 (V)

   426475.2    5839903.4    10214.6    268    -46.0    62.40    71.00    13.68    8.60    Bay    Zone 55

ELE-06-00204 (V)

   426722.5    5839195.4    10215.6    225    -45.0    12.71    28.00    14.50    15.29    South    Zone 70

ELE-06-00338 (G)

   426660.7    5839390.0    10215.3    269    -50.0    78.00    81.49    3.32    3.49    Main    Zone 72

ELE-07-00392 (G)

   427009.7    5839590.1    10214.4    258    -55.0    488.12    494.00    10.49    5.88    Main    Zone 70

ELE-07-00403 (G)

   426876.2    5839744.7    10213.8    265    -55.0    665.80    667.00    10.15    1.20    Bay    Zone 57

ELE-07-00506 (G)

   426668.9    5840115.0    10218.6    268    -50.0    102.00    114.00    2.25    12.00    North    Zone 56

ELE-08-00575 (G)

   426835.0    5839461.1    10214.2    225    -52.0    442.35    446.25    3.22    3.90    South    Zone 5830

ELE-08-00620B (G)

   427171.3    5839714.1    10217.4    265    -56.0    937.79    943.15    12.01    5.36    Main    Zone 60

ELE-08-00627 (G)

   426454.1    5840098.5    10216.9    145    -50.0    95.00    103.00    13.28    8.00    North    Zone 55

ELE-09-00649B (G)

   427214.7    5839700.1    10217.0    263    -56.0    913.30    919.00    3.01    5.70    Main    Zone 59

ELR-05-00037 (G)

   426434.8    5839864.1    10216.4    273    -53.0    25.00    40.00    4.10    15.00    Bay    Zone 55

ELR-05-00038 (G)

   426574.6    5839865.4    10216.1    272    -52.0    220.00    238.00    5.64    18.00    Bay    Zone 56

 

 

Page 10-14


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

10.14

Comment on Section 10

In the opinion of the QPs, the quantity and quality of the lithological, geotechnical, collar and down-hole survey data collected in the exploration and infill drill programs completed by Virginia and Opinaca are sufficient to support Mineral Resource and Mineral Reserve estimation as follows:

 

   

Core logging meets industry standards for gold exploration within a sediment-hosted stockwork-disseminated gold deposit in an orogenic setting;

 

   

Collar surveys have been performed using industry-standard instrumentation

 

   

Downhole surveys were performed using industry-standard instrumentation

 

   

Recovery data from core drill programs are acceptable

 

   

Geotechnical logging of drill core meets industry standards for planned underground mining operations

 

   

The drilling pattern provides adequate sampling of the gold mineralization for the purpose of estimating Mineral Resources and Mineral Reserves.

 

   

Drilling is ideally perpendicular to the strike of the mineralization. Depending on the dip of the drill hole, and the dip of the mineralization, drill intercept widths are typically greater than true widths;

 

   

Drill orientations are generally appropriate for the mineralization style, and have been drilled at orientations that are optimal for the orientation of mineralization for the bulk of the deposit area

 

   

Drill orientations are shown in the example cross-section included in Section 7 as Figure 7-4, and can be seen to appropriately test the mineralization

 

   

Drill hole intercepts as summarized in Table 10-2 appropriately reflect the nature of the gold mineralization. The table demonstrates that sampling is representative of the gold grades in the deposit area, reflecting areas of higher and lower grades

 

   

No material factors were identified with the data collection from the drill programs that could affect Mineral Resource or Mineral Reserve estimation.

 

 

Page 10-15


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

11.0

SAMPLE PREPARATION, ANALYSES AND SECURITY

 

11.1

Sampling Methods

 

11.1.1

Geochemical Sampling

Till samples, which were approximately 15 kg each, were processed by the use of shaking table and 150 g to 250 g of dense minerals were extracted. The dense fraction was submitted for analyses by fire assay for Au and ICP-MS for 54 elements.

Several drill holes on several adjacent sections were selected for top to bottom geochemical sampling. All channel samples are sent for geochemical analysis.

The preparation, packaging, tracking procedures and quality control program developed for drill core samples (refer to Section 11.1.3) also apply to geochemical sampling but samples are marked for geochemical analysis.

 

11.1.2

Trench and Channel Sampling

The preparation, packaging, tracking procedures and quality control program developed for drill core samples (refer to Section 11.1.3) also apply to channel samples. The only difference is that sample tags are inserted in the field and the whole channel sample is sent to the laboratory.

 

11.1.3

Drill Sampling

The sample preparation used by Virginia was similar to the one currently used by Goldcorp and is described below. The only difference was the use of a hydraulic splitter to split the core from country rocks adjacent to ore zones.

Since mid-2007, drill cores are systematically sampled from top to bottom. Sampling is designed to reflect the general geology, all significant alterations and significant mineralization found on the property. Sample lengths vary between 0.3 m and 1.50 m.

Sample intervals are marked on the cores using a red marker. The geologist draws a red line on the core marking where it needs to be cut. The geologist also inserts the sample tag and marks the corresponding sample number on the core.

All drill cores are cut using a diamond saw. One half of the core is put into a plastic bag along with a portion of the sample tag and the other half of the core is left in the core boxes. When cutting the core, the sampling technician must always follow the red line and must also always sample the same side of the core.

 

 

Page 11-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Sample tags are pre-stamped indicating where standard reference materials (SRMs), blanks, duplicates and quarter splits should be inserted. Tags for sample SRMs are inserted in the core box beside the previous sample tag. This procedure alerts the sample technician that there is a SRM, a blank, a duplicate or a quarter split to be inserted into or taken from the core boxes.

The sample bags are closed shut in such a way as to avoid losing any material. The bags are pre-labelled by the sampling technician. The samples are then put into sequence on a table so that standards and blanks may be inserted into the boxes, under the supervision of the senior technician, and they are readied for shipping.

The geologist enters the required sampling information in the acQuire database and in the sample booklets.

 

11.2

Metallurgical Sampling

The drill core samples were crushed to pass 6 mesh. A designed mass was riffled out of each -6 mesh sample and combined according to zone and elevation. Approximately 6 kg was riffled out of each blended elevation composite and submitted for standard Bond ball mill grindability testing. The balance of each 6 mesh elevation composite was further crushed to pass 10 mesh and was separately rotary split onto 1 kg test charges for metallurgical testing and head & chemical analysis.

The whole and half-core PQ core size received was specifically designated for the comminution testing.

One kilogram samples was submitted for screen metallics protocol analysis for gold and silver at +/- 150 mesh (106 um). The entire screen oversize (3-5% mass) was fire assayed to extinction. Duplicate 25 to 30 g aliquots were riffled from each screen undersize and submitted for fire assay for gold and silver.

 

11.3

Density/Specific Gravity Determinations

Collecting of specific gravity data was initiated after Project acquisition by Goldcorp. Once the geological logging is completed and before the core is sampled, pieces of about 10 cm are measured, weighed dry and then weighed wet. Data are recorded in the acQuire® logging database and specific gravity is automatically calculated. If the calculated measurement is above the limits set for the Éléonore rocks, then the system flags the entry in red and the measurement is taken again.

Specific gravity measurements are taken systematically in the middle of each mineralized zone greater than 1 m and at 3 m and 6 m from the host rock. Point load

 

 

Page 11-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

tests are also taken on the same samples as well as every 50 m along the borehole length.

The specific gravity database contains 15,369 specific gravity results that were determined on core samples.

Table 11-1 summarizes the average specific gravity data for each major lithology.

 

11.4

Analytical and Test Laboratories

The laboratories used during the various exploration, infill and step-out drill analytical programs were:

 

   

From 2004 to December 2006, core samples were prepared and analysed at Laboratoire Expert (Expert) in Rouyn-Noranda as the primary laboratory. This laboratory was not certified before 2006.

 

   

From January 2007, preparation and samples assay are performed by ALS-Chemex (ALS) in Val d’Or, Quebec, which is accredited for ISO 17025 and 9001/2008.

 

   

SGS Laboratory in Rouyn-Noranda acted as the secondary (umpire) laboratory for both the Expert and ALS Chemex programs pre-June 2010 had ISO9001 certification and currently holds a certificate of accreditation to conform to ISO/IEC 17025.

 

   

All samples selected by Virginia for multi-element analysis were sent to ACTLABS laboratory in Toronto.

Metallurgical testwork has been completed at a number of laboratories. Laboratories used are summarized in Table 11-2. Metallurgical laboratories are not typically accredited or certified.

 

 

Page 11-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 11-1:

Specific Gravity Summary Table

 

Zones

   Number of Samples      Average
Specific Gravity
 

Auriferous Zones

     3,246         2.77   

Wacke (S3)

     8,161         2.76   

Conglomerates (S4)

     78         2.70   

Argillites (S6-S9)

     14         2.95   

Paragneiss (M4)

     99         2.74   

Diorite (I2J)

     77         2.78   

Pegmatite (I1G)

     248         2.63   

Total

     11,923         2.76   

 

  Table 11-2:

Metallurgical Testwork Laboratories

 

Laboratories

  

Orebody Samples

  

Metallurgical Testwork

  

Metallurgical Reports

SGS Lakefield Research (Ontario)    Zone Roberto    Comminution; Gravity (GRG); Flotation; Cyanidation of whole ore / gravity tailing /flotation tailing / flotation concentrate.    Project 11385 – Final report (May 9, 2007)
SGS Lakefield Research (Ontario)    Zone Roberto at different elevations and grades    Comminution; Gravity (GRG); Flotation; Cyanidation of gravity tailing /flotation tailing / flotation concentrate.   

Project 11385-002 – Final report

(January 16, 2008)

SGS Lakefield Research (Ontario)    Zone du Lac and Roberto    Comminution; Gravity (GRG); Flotation; Cyanidation of gravity tailing /flotation tailing / flotation concentrate.   

Project 11385-003 – Final report

(March 9, 2009)

SGS Lakefield Research (Ontario)    Zone Roberto    Communition and flowsheet comparison (Gravity tails flotation prior cyanidation / Gravity tails cyanidation prior flotation) and Cyanide Destruction   

Project 11385-006 – Final report

(Sept 28, 2010)

CANMET Mining and Minerals Sciences Laboratories    Zone Roberto (Flotation concentrate produced in 2009 by SGS)    Cyanidation of gold from ultrafine sulphide concentrate    Design of a Leaching technology to Extract Gold from Éléonore Mine Ultrafine Sulphide Concentrate (Project 603546, May 2010)
Golder Pastec (Ontario)    Zone Roberto (Flotation tails and concentrate produced in 2009 by SGS)    Rheological characterization; Dewatering testing; Potential backfill recipes   

Material testing of the Opinaca Éléonore Mine Tailings,

(June 15, 2010)

FLSmith (Utah)    Zone Roberto (Flotation tailings produced in 2010 by SGS)    Sedimentation, Filtration and Rheology Testing    Sedimentation, Filtration and Rheology tests on Gold Tailings – Éléonore Project (August 2010)

 

 

Page 11-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

11.5

Sample Preparation and Analysis

 

11.5.1

Expert Sample Preparation Procedures

At the laboratory, samples were received and sorted on the floor, manually recorded, and later entered in an Excel® spreadsheet and a partial LIMS (GEMS®). Labels were printed out for pulp bags. Drill core was dried if it was judged to be necessary in an oven without temperature control.

Samples were reduced to about 6 mm in a Denver jaw crusher and then reduced again to 2 mm in a roll crusher. Crushed samples were placed in an aluminium pan and into a riffle splitter. Split sample weight was about 200 g and the sample split was then pulverized in a TM ring and puck pulverizers. A 30 g aliquot was weighed and about 125 g of flux and litharge added in the crucible. The sample was fused in a 28-pot electric furnace. The fused samples were poured in moulds and lead buttons are separated from the slag by hammering.

 

11.5.2

ALS Chemex Sample Preparation Procedures

Upon arrival at the laboratory, samples are sorted on benches or on the floor, logged into ALS database tracking system (GEMS®), and identified with a bar code. Most of the procedures are tracked by the GEMS® software. Samples are then dried in a forced air dryer under controlled temperature conditions.

Samples are reduced with “TM Engineering Rhino & Terminator” crushers in a single pass or in multiple passes to obtain a primary crushed material that is better than 70 to 90% passing 2 mm. Crushed samples are placed in an aluminum pan and fed into a riffle splitter.

Split samples are pulverized in TM 300 g or LM-2 pulverizers with greater than 85 of the pulverized sample passing through a 75 µm screen.

A 50-gram aliquot is used and 200 grams of flux are added to the sample. Samples are fused in 84-pot auto-pour fusion furnaces fitted with a digital temperature control system. Lead buttons are separated from the slag in a template.

 

11.5.3

Actlabs Sample Preparation Procedures

A 0.5-g sample was digested with aqua regia (0.5 ml H2O, 0.6 ml concentrated HNO3 and 1.8 ml concentrated HCl) for 2 hours at 95°C. The sample was cooled then diluted to 10 ml with deionized water and homogenized.

 

 

Page 11-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

11.5.4

Expert Analytical Procedures

Gold assays were performed by standard fire assay with an atomic absorption spectrometry (AAS) finish using a Varian instrument. For assay results equal or above 3.0 g/t Au, samples were re-assayed with a gravimetric finish. Before Goldcorp’s Project interest, Virginia was routinely analysing every sample above 500 ppb Au by gravimetric finish.

Expert reported a detection limit of 5 ppb for AAS determination and 0.03 g/t Au for gravimetric analyses.

No other elements were routinely assayed.

 

11.5.5

ALS Chemex Analytical Procedures

Gold assays are performed by standard fire assay with an AAS finish. For assay results equal or above 3.0 g/t Au, samples are re-assayed with a gravimetric finish. ALS Chemex reports an upper limit of 10 g/t Au and a detection limit of 0.01 g/t Au for AAS analyses.

No other elements are routinely assayed.

 

11.5.6

Actlabs Analytical Procedures

The samples were analyzed using a Perkin Elmer OPTIMA 3000 Radial ICP for the 30-element suite.

 

11.6

Quality Assurance and Quality Control

 

11.6.1

Expert

At Expert, no quality assurance or quality control (QA/QC) was undertaken during sample preparation. The monitoring of gold accuracy included the insertion of one Rocklab standard reference material (SRM) per 28 samples, a pulp duplicate was inserted every 12 samples and an analytical blank was inserted in each batch of 28 samples. SRMs were rejected if the analysis was at two standard deviations from the mean. SRM and blank data were reported in the certificates of analysis.

 

11.6.2

ALS Chemex

The quality control samples are automatically inserted into sampling queue by the GEMS system. Sample preparation quality control includes a sizing of the crusher and pulp products at the beginning of each shift for each machine and QC data is captured

 

 

Page 11-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

and plotted on charts. Each batch of 84 fusion samples contains one analytical blank, three pulp duplicates and two Rocklab SRMs for gold accuracy monitoring. Results are reported in the assay certificates and imported into the Project acQuire database.

 

11.6.3

Actlabs

A matrix standard and blank was run every 13 samples. A series of USGS geochemical standards were used as controls.

 

11.6.4

Virginia Gold

From August 2004 to December 2005 Virginia Gold was inserting approximately one standard and one blank in every batch of 50 samples and randomly inserting for each mineralized zone a supplementary standard and blank. From November 2004, a quarter split of 10% of all samples from mineralized zones were sent to SGS Laboratory in Rouyn-Noranda for analysis and the pulp was re-assayed by Expert.

 

11.6.5

Opinaca

Each sample batch contains two SRMs, two blanks, two duplicates and one quarter-split sample. For SRMs, the sampler must obtain the corresponding SRM from the senior technicians who are responsible for ensuring that the type of SRM being inserted is appropriate. Once inserted, the sample bag is treated like any other sample.

Between 2004 and June 2006, Rocklab SRMs were used. They were gradually replaced with Canadian Laboratories (CDN Labs) standards.

In June 2007, in-house SRMs were created from Éléonore sample rejects and in April 2008, in-house SRMs were created from PQ drill core and prepared by CDN Labs. The SRMs were bagged in 120 g pouches by CDN Labs. These standards went through a round-robin analysis process and have been certified by Smee & Associates Consulting Ltd.

Blank material consists of commercially-available marble chips used for landscaping.

Duplicate samples are used at every stage of the sampling protocol. A sampling duplicate, a coarse reject duplicate and a pulp duplicate are inserted in the sample stream.

 

 

Page 11-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Laboratory duplicates are a repeat of the previous sample and are a split of the sample pulps. This duplicate is performed by the laboratory and is part of the internal controls.

To create the coarse reject duplicate, an empty sample bag containing the duplicate sample tag is stapled to the sample to be duplicated in the sample stream. This alerts the laboratory staff to process a second split of the crushed material. This sample then goes to the pulverisation and assaying stage in the same manner as any other sample.

The sampling duplicate, which consists of splitting the remaining half core left in the core box into quarters, and selecting a quarter-core sample, is inserted as a regular sample in the batch. This sample goes through all the sampling stages and therefore has the most variability of all the duplicate samples.

 

11.7

Databases

The main Project database is acQuire®. Geological, assay, down-hole survey and drill collar data are uploaded in electronic format to the database.

Upon completion of drill hole logging, geologists are responsible for verifying the survey and logging data and have to sign off that all data have been entered in acQuire. Data entry is double-checked by the database manager who then locks the drill hole once assay data have been imported. The drill hole is then flagged as “finalized” in the database.

Once the drill hole is “finalized”, no changes can be made to the drill hole data, unless the database manager changes the status of the drill hole. Any changes to finalized drill holes are documented and kept on record. Only the database manager can perform this step.

Digital assay certificates received from the laboratory are imported through a built-in routine in the acQuire® software on a daily basis. Control sample graphs are automatically displayed during the import process and standard, blank or duplicate failures are flagged in red. The database manager analyzes the graphs and takes the decision whether or not to import or not the assay results based on a set of fixed rules. If the batch fails the QA/QC rules, the laboratory is requested to re-run the batch.

 

 

Page 11-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

11.8

Security

 

11.8.1

Sample Security

From the moment the core boxes are delivered to the core logging facility by the drilling contractor and up to their delivery to the laboratory, the samples remain in the custody of personnel under the direct supervision of either Virginia (2004 to 2006) or Goldcorp (2007 to present) personnel.

Sample shipping procedures changed slightly in January 2007, when a decision was made to increase the batch size from 24 to 50 samples.

The individual plastic sample bags are sealed at the sampling facility with a stapler. The samples are bagged in sequence, in groups of five and inserted into rice bags. A batch is made up of 50 samples, or ten rice bags. A group of six batches is assembled on a pallet for shipment for a total of 300 samples.

A sample shipping form, with a unique identification number, detailing the contents of each batch is filled out by the core sampler. It is verified by the senior technician and entered in the acQuire® logging database. The pallet is then wrapped with plastic and identified with the shipment number. Once ready to be expedited, it is moved to the helicopter pad and transported to the Sarcelle depot where it is stored inside a locked container.

Once or twice a week, the samples are transported directly to the laboratory in Val d’Or in a locked truck with drivers employed by Goldcorp. The sample shipment form follows the shipment at all times and the transportation waybill is signed by the laboratory supervisor. A copy of the waybill is returned to the site and filed.

 

11.8.2

Sample Storage

Rejects and pulps from assay sample preparation are archived in a well organized, secured facility in Rouyn-Noranda that is supervised by Goldcorp personnel.

Drill core is stored on site in core racks organized by drill hole number.

 

11.9

Comment on Section 11

The QPs have made the following observations:

 

   

Sample preparation for samples that support Mineral Resource estimation has followed a similar procedure for all Virginia Gold and Goldcorp drill programs. The

 

 

Page 11-9


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

 

preparation procedure is in line with industry-standard methods for sediment-hosted stockwork-disseminated gold deposits in an orogenic setting.

 

   

Exploration and infill core samples were analysed by independent laboratories using industry-standard methods for gold analysis.

 

   

Typically, drill programs included insertion of blank, duplicate and SRM samples. QA/QC submission rates meet industry-accepted standards of insertion rates. The QA/QC program results do not indicate any problems with the analytical programs, therefore the gold analyses from the core drilling are suitable for inclusion in Mineral Resource and Mineral Reserve estimation.

 

   

Data that were collected were subject to validation, using in-built program triggers that automatically checked data on upload to the database. Verification is performed on all digitally-collected data on upload to the main database, and includes checks on surveys, collar co-ordinates, lithology data, and assay data. The checks are appropriate, and consistent with industry standards. Independent data audits have been conducted, and indicate that the sample collection and database entry procedures are acceptable.

 

   

Sample security has relied upon the fact that the samples were always attended or locked in appropriate storage facilities. Chain-of-custody procedures consist of filling out sample submittal forms that are sent to the laboratory with sample shipments to make certain that all samples are received by the laboratory.

 

   

Current sample storage procedures and storage areas are consistent with industry standards.

 

   

The specific gravity database is currently sufficient to provide a reliable assessment of the variability of the specific gravity across the gold deposit and across the various rock types.

Therefore, the QPs are of the opinion that the quality of the gold analytical data are sufficiently reliable to support Mineral Resource and Mineral Reserve estimation and that sample preparation, analysis, and security are generally performed in accordance with exploration best practices and industry standards.

 

 

Page 11-10


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

12.0

DATA VERIFICATION

 

12.1

Smee (2007)

Smee and Associates Consulting Ltd. was retained by Goldcorp in February, 2007 to review core handling, data collection, QC protocols and database design.

Smee and Associates concluded:

“The sampling and quality control program appears to be running smoothly and is in compliance with mineral best practices. Only minor adjustments are contemplated”

Adjustments including in-house standards and the ability to compare failed and accepted standards have been implemented.

 

12.2

SRK Consulting (2007)

During preparation of a technical report on the Project in 2007, SRK used Gemcom software to review the Project database, primarily for items such as missing or overlapping intervals, and intervals that were longer than the drill hole depth.

SRK personnel also interviewed project personnel on all aspects of the field program, and visited several outcrop exposures to ascertain the geological setting of the project area and to witness the location of exploration work.

SRK also reviewed drill core from several boreholes intersecting gold mineralization in all areas of the gold deposits. The purpose of this review was to ascertain the geological and structural controls on the distribution of the gold mineralization and to verify the geological descriptions.

SRK concluded:

“In the opinion of SRK, Goldcorp used industry best practices to explore for gold on the Éléonore project. The exploration data was collected with care and is appropriately managed to ensure the safeguard of exploration information about the Éléonore gold deposits. The resulting exploration data is generally reliable for resource estimation.”

 

12.3

G.N. Lustig Consulting Ltd (2007)

All borehole sample and assay data collected from the first 2004 borehole to December 2006 was verified by G.N. Lustig Consulting Ltd (GNL). The verification performed by GNL was done by re-creating the database from the original documents. Sample numbers and intervals were entered directly from the sample tags in a

 

 

Page 12-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

Microsoft Excel spreadsheet and merged with assay results imported from the original digital assay certificates obtained directly from the laboratory.

The resulting database was cross-checked with the acQuire database. A list of errors, such as missing samples, overlaps, gaps, wrong assay results was provided to Goldcorp and the errors were corrected.

 

12.4

G.N. Lustig Consulting Ltd (2008)

In July 2007, 3,285 drill core pulp samples representing approximately 20% of the year to date 2007 program were sent to SGS, who acted as an external check for the primary analyses performed by ALS Chemex. GNL reviewed the results and concluded:

“The external duplicate analyses indicate no significant overall relative bias between SGS and ALS Chemex gold analyses. The results of the analyses of standard reference material along with the duplicates indicates that the SGS analyses are accurate and free from any significant bias, with the exception of fire assays between 3 and 10 g/t where gravimetric gold determinations would usually have been used. Overall the analyses where both labs used AAS resulted in SGS being 2.28 % higher than ALS. Where ALS used gravimetric and SGS used AAS, the ALS analyses were 4.9% higher and where both labs used a gravimetric finish SGS was higher by 0.472%. The results have confirmed that the ALS results have no relative bias where the analytical methods are the same. The bias in the 3-10 g/t range appear to be a low bias on the part of SGS due to the analytical method used, confirmed by the routine analyses of a standard in that grade range that was biased low by 3.7%.”

 

12.5

Goldcorp

Upon the acquisition of the Éléonore Project by Goldcorp, drilling information was reviewed in-house.

A new data-management system (acQuire) was installed to help standardize and verify data collected in the field. A set of procedures were established for finalizing geological logs.

 

12.6

Comment on Section 12

The QPs consider that a reasonable level of verification has been completed by external consultants and dedicated database management staff, and that no material issues would have been left unidentified from the verification programs undertaken.

The QPs, who rely upon this work, have reviewed the appropriate reports, and are of the opinion that the data verification programs undertaken on the data collected from the Project adequately support the geological interpretations, the analytical and

 

 

Page 12-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

database quality, and therefore support the use of the data in Mineral Resource and Mineral Reserve estimation:

 

   

No material sample biases were identified from the QA/QC programs

 

   

Sample data collected adequately reflect deposit dimensions, true widths of mineralization, and the style of the deposits

 

   

Drill data are typically verified prior to Mineral Resource and Mineral Reserve estimation, by running a software program check.

 

 

Page 12-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

13.0

MINERAL PROCESSING AND METALLURGICAL TESTING

The metallurgical test program was overseen by Goldcorp’s metallurgical team.

Extensive metallurgical studies were carried out on samples taken from the various Éléonore ore zones. Gold recovery studies were completed by SGS Lakefield Research. FLSmith and Golder Associates were involved in the sedimentation and filtration tests as well as in the paste backfill tests. A complete list of the laboratories used for metallurgical assessment purposes was provided in Table 11.2.

 

13.1

Metallurgical Testwork

 

13.1.1

Metallurgical Testwork 2006

A total of 190 samples, taken from the assay laboratory reject samples, representing approximately 181 m of diamond drill core from the Roberto and the Roberto East zones were submitted for testwork. The samples came from 44 diamond drill holes spread across the strike of the orebody over a distance of about 375 m. The deepest sample was sourced at a depth of 1,009 vertical meters below surface

In the absence of a geological model that could explain the likely lithological controls that could impact the metallurgical response, the samples for the metallurgical test program for the upper, middle and the lower parts of the deposit were prepared according to the ore sequence expected to be delivered to the processing plant. Thus, the samples were composited over three vertical intervals.

Table 13-1 outlines the composition of the samples used for the various tests. In all, 256 kg of material were subjected to three different tests in that part of the testing program.

Representative head samples were removed from each of the 27 composites during the sample preparation phase. These samples were submitted to a variety of chemical analyses (Table 13-2).

Composite samples from the Roberto and the Roberto East lenses showed no appreciable differences in their Au:S (gold to sulphur) and Au:As (gold to arsenic) ratios. The total sulphur content was 50% higher in the Roberto lens than in the Roberto East lens. The proportion of non-sulphide sulphur, presumably as sulphate, was found to be close to 32% in both lenses.

 

 

Page 13-1


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-1:

Sample Requirements for the Proposed Test Program.

 

LOGO

 

 

Page 13-2


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-2:

Chemical Analysis of Metallurgical Composites.

LOGO

The nature of the elevated non-sulphide sulphur content in samples, which otherwise show little visible evidence of oxidation requires additional analysis, using fresh samples.

Other than the elevated arsenic levels, inductively-coupled plasma and heavy metal analyses showed no evidence of any potentially-significant contaminants such as mercury, cadmium, lead, or antimony (Table 13-3).

 

 

Page 13-3


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-3:

Semi-Quantitative ICP Scan Results, Elevation Composites.

 

LOGO

The acid neutralising potential (NP) of the rock was found to be low, despite a relatively high paste pH, typically around 9.7. The zone-weighted Net NP is about -25 kg CaCO3/kt, so the potential for acid generation from the ore and tailings is considered to be high (Table 13-4).

Elevation composite samples from the Roberto and Roberto East ore zones were submitted to semi qualitative petrographic and X-ray diffraction (XRD) examination.

 

 

Page 13-4


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-4:

Acid-Base Accounting Results

 

LOGO

The results were:

 

   

Pyrite, pyrrhotite and arsenopyrite are present in approximately equal amounts in both ore zones, and this ratio does not appear to change with depth;

 

   

The chemical analysis of the Roberto East zone showed a slightly lower arsenopyrite contents;

 

   

There is no obvious difference in the sulphide mineral liberation characteristics between the Roberto and Roberto East ore zones; and there seems to be no any appreciable change with depth;

 

   

Fine gold inclusions, less than 5 µm in size, were observed within the sulphides.

 

13.1.2

Metallurgical Testwork 2007

Samples representing approximately 20 m of PQ size drill core from the Roberto and Roberto East zones were submitted to physical testing (PQ core size is 85 mm in diameter). The samples were taken at depths ranging from surface to 200 m below surface.

Samples representing approximately 400 kg of NQ size drill core spread across the orebody strike length were used to complete an optimisation study and to define the Bond Ball mill grindability index.

 

 

Page 13-5


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

These samples were composited over three vertical intervals and, within these intervals, were also composited over seven grade ranges for variability testing.

The optimization study and Bond Ball mill grindability index were undertaken on composites from the Roberto and the Roberto East zones, and on composites made of a combination of ores from these two zones (Table 13-5).

The grade composites for and elevation for the Roberto and the Roberto East zones were selected for variability test work as shown in Table 13-6.

 

13.1.3

Metallurgical Testwork 2008

Two types of samples were used in the metallurgical analysis: PQ core samples and samples taken from pails and boxes. The bulk PQ core samples as well as samples from the pails represented the Roberto, Roberto East and Zone du Lac zones of the Éléonore Project.

The Roberto and Roberto East PQ core samples were used in the pilot plant test work to produce enough concentrate for the cyanidation process tests. The Zone du Lac PQ core samples were not included in the bulk pilot-plant composite but portions of the cores were used in a series of comminution tests.

The bulk pilot plant composite included 90 boxes of Roberto PQ core samples and 15 boxes of Roberto East PQ core samples. These were combined, blended and crushed to -1/4 inch (– 6.35 mm). In total, approximately 1,400 kg of samples were available for the pilot-plant run.

The Zone du Lac PQ core samples were used in several standard comminution tests. Samples from 18 pails and 3 boxes were used for the metallurgical test program. The comminution and metallurgical tests samples taken from the various zones and elevations of the orebody are shown Table 13-7.

Grades for the head samples used for the gold and silver assays, for both the 2007 and the 2008 test work, are shown in Table 13-8. The Roberto 2008 gravity-recoverable gold (GRG) and the Roberto East 2008 GRG gold head grades were significantly higher than those determined in the 2007 test program.

Additional samples from the Roberto and Roberto East GRG composites were also submitted for S-2 analysis (proportion of sulphur available as sulphides) in order to confirm their sulphide contents. A sub-sample of the Zone du Lac composite was submitted for As, S, S-2 and semi-quantitative ICP scan analysis.

 

 

Page 13-6


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-5:

Composite Samples Head Analysis.

 

LOGO

 

 

Page 13-7


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-6:

Composite Samples Metallic-Screened for Gold Analysis.

 

LOGO

 

 

Page 13-8


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-7:

2008 Comminution and Metallurgical Samples

 

Composite

(Zone and Elevation)

  

Required Testwork

   Sample Mass
(kg)
 

Roberto (2008), 0 – 250 m

        14.97   

Roberto (2008), 250 – 500 m

        19.30   

Roberto (2008), 500 – 750 m

        3.20   

Roberto (2008), >750 m

        16.87   

Roberto East (2008), 0 – 250 m

   Standard Bond ball mill grindability testing      16.57   

Roberto East (2008), 250 – 500 m

        5.14   

Roberto (2008), 0 – 250 m

        18.97   

Roberto (2008), 250 – 500 m

        21.22   

Roberto (2008), 500 – 750 m

        20.01   

Roberto (2008), >750 m

        19.15   

Roberto Metallurgical Composite

   Knelson GRG and Intensive Cyanidation      31.75   

Roberto East Metallurgical Composite

        30.19   

Zone du Lac Metallurgical Composite

        39.26   

Zone du Lac Metallurgical Composite

   Flowsheet Confirmation      22.87   

Total Mass for Comminution and Metallurgical Testing, kg

     279.5   

 

  Table 13-8:

2008 Comminution and Metallurgical Samples.

 

LOGO

 

13.2

Comminution Tests

Crushing and grinding testwork was completed on three different batches by SGS Lakefield Research Limited (SGS). The samples came from the Roberto, Roberto East, and the Zone du Lac deposits. All samples were submitted for standard Bond tests, crushing work index (CWi) tests, abrasion index (Ai) tests and ball mill work index (BWi) tests.

 

 

Page 13-9


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

This work was commissioned to evaluate what variations in crushing and grinding characteristics of the ores could be expected and to confirm the comminution configuration and power requirements for process plant design.

Bond ball mill work index values increase with depth. Zone du Lac ore yielded a BWi of 16.7 for samples taken between 0 and 250 m below surface, and 20.6 for samples taken at depth greater than 750 m. The BWi of the Roberto ore ranged between 18.2 for samples taken between 0 and 250 m below surface, and 19.5 for samples taken at depth greater than 750 m. Results of the Bond testing are included in Table 13-9.

The 2008 data indicated significantly harder ores (compared with the database) when using the non-standard closing screen size of 200 mesh (75 um). There is a clear trend indicating that the ore becomes harder with depth. The Roberto ore BWi ranged between 18.2 for samples taken between 0 and 250 m below surface and 19.5 for samples taken at depth greater than 750 m below surface. The Zone du Lac BWi ranged between 16.7 for samples taken between 0 and 250 m below surface and 20.6 for samples taken at depth greater than 750 m (Figure 13-1).

In terms of Crushing Work Index, a CWi of 14.1 obtained from the Zone du Lac ore appears to be significantly harder than both the SGS crushing work index database average of 10.3, the Roberto ore at 8.9 and the Roberto East ore at 9.5 (Figure 13-2). When compared to other values in the SGS database, the Roberto and the Roberto East ores fall at the 54th and 57th percentile respectively while the Zone du Lac ore falls at the 79th percentile.

The Zone du Lac Abrasion Index (Ai) was 0.4223, slightly less abrasive than the Roberto and the Roberto East Ai of 0.4659 and 0.4668 respectively. The Éléonore ores exhibit similar degrees of abrasiveness and fall between the 78th and the 80th percentile compared with other values in the SGS abrasive index database (Figure 13-3).

 

13.3

Gravity

Knelson/Laplante gravity-recoverable gold tests were conducted on the Roberto, Roberto East and Zone du Lac composite samples during 2006 and 2008, as shown in Table 13-10. The optimum grind size identified (P80 = ~65 µm) was selected as the final stage grind target for the subsequent tests.

 

 

Page 13-10


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-9

Summary of Bond Testwork.

 

LOGO

 

  Figure 13-1:

Comparison of the Bond Ball Mill Work Index for the Éléonore Ores and Values in the SGS Ball Mill Work Index Database

 

LOGO

 

 

Page 13-11


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Figure 13-2:

Comparison of the Crushing Impact Work Index of the Éléonore Ores and Values in the SGS Crushing Impact Work Index Database

 

LOGO

 

  Figure 13-3:

Comparison of the Abrasion Index Values of the Éléonore Ores to Values in the SGS Abrasion Index Values Database

 

LOGO

 

 

Page 13-12


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-10:

Summary of Gravity-Recoverable Gold Tests Results (2006 to 2008)

 

LOGO

The gravity-recoverable gold (GRG) tests consist passed 20 kg through the Knelson concentrator, collecting a concentrate and tailing sample. The Knelson concentrate and tailing samples were filtered and submitted for size-fraction analysis for Au. The remainder of the tail was decanted to 65% solids, split into two equal parts and each half ground in a 10 kg rod mill for 12.5 minutes. For stage, the gravity separation, sampling, and size-fractional assaying procedure was repeated. Stage 2, Knelson tail was split into two equal parts and each part ground at 65% solids in the 10 kg rod mill for 62.5 minutes. Stage 3, gravity separation, was performed as per the above stages repeating the gravity separation, sampling, and size-fractional assaying procedure.

From tests performed in 2006 by SGS Lakefield, the gravity-recoverable gold response indicated that a large proportion of the gold was liberated/recovered at a primary grind size finer than ~570 µm and coarser than ~123 µm (Table 13-11). Given the apparent degree of gravity-recoverable gold, the conclusion was that it would be advisable to include gravity separation in the proposed Éléonore process flowsheet.

In 2006, Goldcorp decided to process samples through a gravity recovery circuit prior to completing downstream cyanidation and/or flotation test work done by SGS Lakefield. A Knelson MD-3 concentrator was used as the primary gravity-gold recovery unit in these tests. The Knelson concentrate was recovered and further upgraded using a Mozley C-800 laboratory mineral separator. A final concentrate mass recovery ranging between 0.1 and 0.3% was targeted. Gravity concentrates were assayed to extinction for gold by standard fire assay methods. The Knelson and Mozley tailings were recombined, blended and divided into representative charges for downstream testwork (Table 13-12).

 

 

Page 13-13


LOGO   

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

  Table 13-11:

Gravity-Recoverable Gold Tests Results for the Orebody Composites (2006)

 

LOGO

 

  Table 13-12:

Average GRG Separation Test Results

 

LOGO

The presence of gravity-recoverable gold in the ore has several key implications for the process design. Firstly, the cost or recovering gold via gravity is relatively low provided that a significant volume of gold can be recovered. Secondly, coarse, free gold can be difficult to recover in flotation and may be too coarse to effectively leach by the cyanidation process. Losses in traditional cyanidation or flotation circuits can be attributed to coarse gold. To prevent or to minimize these losses gravity processes can be used.

 

 

Page 13-14


LOGO

  

Éléonore Gold Project

Quebec, Canada

NI 43-101 Technical Report

 

The ores of the Éléonore Project were shown to contain various amounts of gravity-recoverable gold, and testwork has indicated that a gravity recovery process will be required to minimize losses in either a flotation process or a cyanidation process.

 

13.4

Flotation

 

13.4.1

Collector Suite Optimisation

Conventional bench-scale flotation tests were completed using ground ore that had been processed for gravity gold recovery. The batch flotation tests were run in 2 kg Denver flotation machines. Three different reagents, combined in various proportions, were used in the flotation tests done by SGS Lakefield in 2008.

The use of PAX alone (potassium amyl zanthate) and PAX + Cytec R208 (dithiophosphate) essentially yielded identical results. PAX + 3418A (phosphene-based collector) yielded a slightly higher mass pull and marginally better gold recovery. However, given the marginally better results and the cost of the 3418A compared to that of the R208 (approximately three times higher), and given that the flotation tailings were planned to be cyanide-leached, it was decided to continue with the PAX + R208 for the remaining tests in this program (Table 13-13).

 

13.4.2

Grind Size Optimisation

Having established the reagent suite that would be applied in all subsequent tests in 2008, 2009 and 2010 done by SGS Lakefield, grind optimisation tests were completed on both the Roberto and the Roberto East Zone composites.

The Orebody Composite tests performed in 2006 were completed on 10-kg (dry equivalent) charges of gravity tailings.

Data presented in Figure 13-4 indicate a marked improvement in gold recovery at a grind of P80 = 64 µm when compared with results of tests completed at coarser grinds. Finer grinding appears to yield a significant increase in rougher mass recovery: 8.6% at 48 µm compared with 5.2% at 64 µm, with no corresponding improvement in gold recovery. A flotation grind target of P80 = 65 µm was selected for the grade variability recovery tests undertaken in this program.

 

 

Page 13-15


LOGO

  

Éléonore Gold Project